LG Display has announced it will increase production capacity of organic light-emitting diode (OLED) panels for TVs.
LG Display and its sister company, LG Electronics, claim OLED TV will give them a competitive edge over rivals once the technology matures.
LG Display said it would more than quadruple the monthly production capacity of OLED TV panels to 36,000 units by the year-end from 8,000 currently.
The companies say OLED is far superior to the mainstay liquid crystal display (LCD) technology, offering better picture quality as well as lower power consumption.
However it admits that costs, however, are much higher, making OLED TVs several times more expensive than LCD sets. LG Electronics’ 65-inch ultra-high-definition OLED TV launched in South Korea last year was priced at $10,874, more than three times the price of a comparable LCD TV by the same company.
Samsung has given up on OLED, saying the technology is not ready yet for mass consumption. It has focused on quantum dot technology instead.
LG Display finished building a $640.58 million factory to increase production of OLED TV panels. The panel maker did not comment on its investment plans for 2015.
It is not as if LG is betting the farm on OLED, it is also launching its own quantum dot TVs alongside OLED products this year in what it says is a two-track strategy.