James Delahunty
17 Jul 2009 16:06
In an effort to find a new source of revenue, LG Display has announced that it now aims to produce 32-inch Organic Light-Emitting Diode (OLED) televisions in 2012. OLED technology has enormous benefits in the form of picture quality, and due to the absence of a backlight, uses less energy than LCD and Plasma. Longevity of a OLED panel falls behind competing technology however, and many of the world's largest consumer electronics companies are searching for a solution.
In it's push to bring an OLED television to the market as soon as possible, LG Display will expand its research and development sector, taking on 1,700 new jobs this year, according to chief executive officer Kwon Young-soo. "We plan to produce 30-inch OLED panels for TVs in 2012," he said.
He continued: "The commercial success of OLEDs hinges on how it shows its superiority compared to existing liquid crystal display (LCD) technologies. We will focus on TV panels rather than cell phone panels because the larger the display, the more efficient the OLED technology."
LG Display is to invest $2.59 billion in the production of another eight generation LCD production line to be in operation in the second half of 2010. The company announced a return to profit in the second quarter, attributed to rising costs of LCD panels and stronger demand.