LG Invests $655 Million Into Making Cheaper OLED Screens

LG is all set to invest $655 million into mass producing organic light emitting diode (OLED) panels that’s can be used in Televisions. Production will commence in an existing plant in South Korea and mass production is expected by 2014.

LG has already invested money in the OLED technology and has created prototype units, like this LG EA9800 curved OLED TV.  Unfortunately the cost of creating OLED screens did not make a viable project, but now, LG is all set to create cheaper screens. The biggest hurdle in LG’s way of investment was a hefty lawsuit from rival Samsung, which had accused LG of stealing OLED technology. LG had counter sued Samsung as well.  The lawsuit had been going for 18 months and was just dropped last week. Now that the company no longer has legal worries, its plan of pumping money can get underway.

OLED technology is a successor to liquid crystal display (LCD) technology and is known to deliver better brightness and image quality. They are also quite energy efficient, but have been quite expensive, which should change. LG plans on creating 55-inch OLED HDTV, in the low power range. We will have to wait for 2014 to see if the promise of cheaper OLED televisions becomes a reality

Read more about LG and oled. Source: reuters

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