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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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