Due to the increased interest that these types of flexible displays are gaining in the electronic market, LG Display plans on focusing on OLED displays, preparing to build an OLED plant with an initial investment of 1.6 billion dollars. The factory will be built in Korea, where the LG company is based.
The plant will likely start producing OLED displays in 2018, with an added increase of 7 billion dollars in expenses depending on the economic market conditions as well as consumer demand.
Taking into account that OLED flexible screens are sought after by both smartwatch companies such as Apple and Android, as well as car manufacturing companies, due to their flexible nature, making producers able to keep their original design. Up until this point, when such companies decided to equip one of their products with and LCD display along its creation phase, the initial concept and design had to be modified accordingly so that it could house a rigid display within. This will no longer be the case due to their design flexibility.
The added energy efficiency that OLED displays have is also a big plus for manufacturers. Compared to and LCD screen which has to light all the pixels on the screen, even if they are not used, OLED screens light each pixel individually, thus requiring a much lower amount of power in order to function.
The factory which will be built in Paju, located in the Korean province of Gyeonggi, and will be the size of roughly fourteen full sized football fields and 328 thousand feet high. This massive plant will produce approximately 7.500 OLED display panels on a monthly basis once it will start mass producing in 2018.
OLED displays are already a sought after by companies worldwide, while also adding the increased general focus towards OLED TVs that the general population currently has. In present time, the OLED market is worth about 8.6 billion dollars and is expected to increase to almost 23 billion dollars in the following decade. But this all depends on the global market in general and also the public interest towards this type of device, taking into consideration that owning such a TV requires a pretty hefty investment from all parties, companies and normal households alike.
Because LG Display plans on focusing on OLED displays in such an extensive manner, other TV manufacturing companies might follow suite and invest as well in this flexible TV technology.