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LG DISPLAY TO PRODUCE 32-INCH OLED TVS IN 2012: CEO

Posted on: Thu, 16 Jul 2009 23:48:00 EDT

Symbols: SSNJY

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SEOUL, Jul 17, 2009 (AsiaPulse via COMTEX) --
SSNJY | Quote | Chart | News | PowerRating -- LG Display Co. (KSE:034220), the
world's second-largest flat screen maker, aims to produce
32-inch organic light emitting diode (OLED) televisions in 2012
in an effort to find a new source of revenue, the company chief
said Friday.

Competition is heating up in the field of OLED, an
ultrathin, ultrabright diode which doesn't require a backlight.
Last month, Samsung Electronics Co. launched a new OLED-based
mobile phone in South Korea.

"We plan to produce 30-inch OLED panels for TVs in 2012,"
said LG Display CEO Kwon Young-soo in a meeting with reporters.
"The commercial success of OLEDs hinges on how it shows its
superiority compared to existing liquid crystal display (LCD)
technologies."

"We will focus on TV panels rather than cell phone panels
because the larger the display, the more efficient the OLED
technology."

In order to boost its new business, LG Display will secure
human resources in the research and development sector, newly
hiring some 1,700 people this year, the CEO said.

LG Display announced Thursday that it swung to a profit in
the second quarter from a shortfall three months earlier on
strong demand and rising prices of LCD panels amid a supply
crunch.

In order to meet the larger demand, the company said earlier
this week it will invest 3.27 trillion won (US$2.59 billion) to
add another eighth-generation production line by the second
half of 2010.

(Yonhap)maz

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