LG Display hosted a press conference in its Paju complex to celebrate the company's 20th anniversary. The company announced it will shift its investment focus to OLED displays - and will invest 10 trillion Won (about $8.5 billion) in the next three years to expand OLED production.
LG Display plans to develop OLED panels to be used in televisions, wearable devices, automobiles and foldable devices. LG Display cites DisplaySearch saying that the OLED market will grow to $28.3 billion by 2022.
LGD is currently producing OLED TVs in the M2 fab in Paju, that will reach a capacity of 34,000 monthly Gen-8 substrates (together with the smaller pilot line, that is) by the end of 2015 (which will enable LG to produce 1.5 million OLED TV panels in 2016, up from 600,000 in 2015).
LG Display also has a smaller Gen-4.5 fab used to produce plastic-based OLEDs - with a monthly capacity of 14,000 substrates. LG recently announced plans to build a new 6-Gen (1500x1850 mm) flexible OLED fab in a $900 million investment. The new E5 line will have a capacity of 7,500 monthly substrates - or 1.5 million 5.5" panels, and will begin operation in the first half of 2017.