LG invests 1.6 billion euros extra in OLED production

LG Display has announced that it will invest 1.99 trillion won, converted about 1.6 billion euros, into the production of OLED panels for mobile devices. The display arm of the South Korean electronics giant announced this during the presentation of its quarterly figures.

The investment of 1.99 trillion won will go to a new production line for flexible OLED screens. The new line should be ready for mass production from the second half of 2018 and ensure a production that is four times larger than what is possible with the current line.

The panel area that the builder supplied to manufacturers of end products in the second quarter was 5.1 percent larger than in the first quarter. The average selling price fell by four percent.

The display builder managed to make about 35 million euros profit over the months of April to June. This was 91 percent less than the year before, Reuters reports, but according to LG Display cfo Don Kim, the prices of panels for displays are stabilizing. LG Display therefore expects more revenue for the second half of the year.