LG Display announced that it has signed a deal with the city government of Hai Phong, the third-largest city in Vietnam, to build an OLED TV module factory. LGD will invest $100 million to establish a local office in the city and begin construction of the factory later in 2016.
LG Display aims to start operating the new factory next year. The company hopes that the low costs in Vietnam will enable them to produce OLED TVs at a lower cost - while still being very close to China. The panels themselves will of course be produced in LGD's fabs in Korea.