LGD has abandoned OLED for general lighting, which has been the driving force of new growth, and has been producing products on the new OLED production line for less than one year and six months, according to LG Group on the 22nd.
LGD decided to gradually reduce the production scale of OLED for lighting produced by the 5th generation OLED special production line (P5) in Turtle Tail, Qingshangbei Road, and withdraw from the market. At the same time, it has decided to focus on the OLED market for automobiles with higher growth and synergistic effect with the group's automotive and electrical equipment business.
LGD launched a new brand of "Luflex" in late 2017, formally entering the general lighting market. Because it is in a weak position in the price competition with the current LED lighting manufacturers, it decided to abandon this industry. LGD has invested about 140 billion won (about 820 million yuan) in the OLED production line in Tortoise.