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LG Display to invest US$2.8 billion in light-emitting diode facilities

LG Display to invest US$2.8 billion in light-emitting diode facilities

An LG Electronics' logo is pictured on a TV displayed at a shop in Seoul, South Korea, April 26, 2016. REUTERS/Kim Hong-Ji/Files

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)

Source: Reuters

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