SEOUL :LG Display Co Ltd said on Tuesday it plans to invest 3.3 trillion won (US$2.8 billion) in small- to mid-sized organic light-emitting diode (OLED) panel production facilities.
The investment will take place starting this month until March 2024, the display panel maker said in a regulatory filing.
The investment will be in South Korea for sixth-generation OLED panels, and the facility is expected to begin operations in 2024, a spokesperson said, without elaborating.
Analysts said LG Display's strategy of efficient OLED production expansion by achieving economies of scale added to its better-than-expected operating profit in the second quarter to 701 billion won (US$607 million).
(US$1 = 1,164.8800 won)
(Reporting by Joyce Lee; Editing by Sonya Hepinstall and Stephen Coates)