LG Display’s OLED TV panel sales in October more than doubled thanks to surging sales of major global TV customers such as LG Electronics, Sony and Philips.
LG Display’s OLED TV panel sales exceeded 200,000 units for the first time in October, followed by sales plan of exceeding 210,000 units in November.
With the help of Sony’s OLED TV which released LG Display’s OLED TV for the first time this year, it has achieved an overwhelming market share of 74% both in units and sales in the 55” and 65” TV market and OLED TV Set.
(September NPD North American aggregate basis)
In North America, Sony’s sales volume in September increased by 2.1 times compared to the previous month, and in Europe, Philips in its third quarter increased by 5.9 times compared to the previous quarter, and sales of LG Electronics, family of OLED TV, together with North America and Europe, experienced an increase of OLED TV sales in September with a surge of 1.5 times compared to the previous month.
(September NPD North America, GFK Europe / CIS 14 countries)
Particularly last end of July, it had only been 3 months since LG Display announced the move to invest in OLED to lead the future display market when TV sales are rapidly growing, with OLED becoming the trend of the Premium TV market.
This trend is due to the surge in consumer demand after 13 global TV companies introduced OLED TVs in front of the premium TV lineup at the IFA exhibition last September, and the demand for LG Display have increased not only for until the end of the year but even until next year.
Accordingly, LG Display’s OLED TV sales are expected to leap over 1.7 million units this year, exceeding market expectations of 1.5 million units, and 2.7 million units are expected to be sold next year.
LG Display plans to raise utilization of the E4-2 line to the maximum in Paju, which started operation in this second half of the year.
LG Display Vice Chairman Han Sang-Bum states, “OLEDs are rapidly emerging as a premium TV market and are growing steadily in accordance to our production capacity.”
Meanwhile, LG Display has actively promoted the trend of OLEDs in the display market and has recently opened ‘OLED Day’ events in China and Europe. In addition, OLED Experience Center has been installed in 8 major cities in China to show OLED potential and future technologies to consumers.