Samsung essentially has a monopoly on the small OLED display market. It supplies the bulk of the panels for smartphones with OLED displays. LG sees huge potential in this industry which is why the company is reportedly setting up a new plant to ramp up OLED production. LG will reportedly be investing 4 trillion won or $3.5 billion in this project.
A report published in a South Korean publication today claimed that LG wants to better compete against the likes of Samsung in the OLED space which is why it’s setting up a new plant in order to increase its production of OLED panels.
The report claims that LG wants to have this plant up and running by the second quarter of 2018. It also says that LG is planning to enhance OLED panel production at two of its existing plants which are already used for producing OLED displays.
Assuming that the plant goes online in the stipulated time, LG is expected to have a production capacity of 120,000 units per month and it will remain behind Samsung Display that’s currently capable of producing almost twice that volume. No wonder Samsung has a 95 percent market share in this market.
It’s not like Samsung will be resting on its laurels. Recent reports suggest that the company has been thinking about expanding its manufacturing facilities as well in order to maintain its lead over the competition.