LGD has abandoned the OLED business for general lighting, which has been a new growth driver, LG group said Tuesday.
Mass production on the new OLED production line is only a year and six months away.
LGD decided to gradually reduce the mass production scale of lighting OLED produced in the 5-generation OLED dedicated production line (P5) at kamei, north gyeongsang-do, until withdrawing from the market.
At the same time, the company decided to focus on the OLED market with higher growth and synergies with the group's automotive denso business.
LGD officially entered the general lighting market in late 2017 with the launch of its new "" Luflex" "brand.
I decided to give up this business because I was in a weak position in the price competition with the current LED lighting manufacturers.
LGD has invested about 140 billion won (820 million yuan) in the OLED production line it is building in kamei.