LG Joint OLED Venture Gets OK From Chinese Government; Set to Open Late 2019

LG Display’s OLED joint manufacturing venture with Guangzhou Economic and Technological Development District, which has been approved by the Chinese government, will be able to produce 90,000 input sheets monthly at full capacity, said LG Tuesday. LG will control 70 percent and Guangzhou 30 percent with total investment in the 8.5-generation plant given as $4.5 billion. The facility will produce large-size OLED panels for TVs, starting at 60,000 input sheets monthly, LG said, with production slated to begin in the second half of 2019. Combined with its 70,000 input sheets a month from its plants in Paju, South Korea, LG Display's total large-size OLED panel production will reach 130,000 sheets each month by next year's second half, it said, enabling shipments of up to 10 million 55-inch OLED TV panels annually.