Posted November. 01, 2017 08:45,
Updated November. 01, 2017 09:28
LG Display’s organic light-emitting diode (OLED) TV panel shipments have increased by more than two-fold compared to the same period of last year. This is largely due to a surge in the sales of OLED TVs made by major global TV makers, which source display panels from LG Display, such as LG Electronics, Sony and Philips.
The South Korean flat panel maker said on Tuesday that its monthly shipments of OLED TV panels have exceeded the 200,000 mark for the first time in October. The trend is expected to continue until the end of the year as the company’s sales plan for November exceeds 210,000 units. The company’s OLED TV panel shipments have been on the rise since last year. The figure has jumped from 135,000 units in the first quarter of last year to 272,000 units a year later and is expected to reach 622,000 units in the fourth quarter of this year.
A sharp increase in the OLED panel shipments has come as more TV makers are joining the “OLED camp.” Global TV makers are adding premium TVs to their lineup in the wake of the stagnant TV market. According to market research firm IHS, global OLED TV sales are forecast to increase from 1.38 million units this year to 6.6 million units in 2021.
Meanwhile, TV manufacturers that have joined the OLED camp are seeing an increase in their shipments. The case in point is Sony. In the North American market, Sony sold more than twice the number of OLED TV in September compared to the previous month. In the European market, Philips saw its shipments for the third quarter increase by 5.9 times from the previous quarter. In the North American and the European markets, LG Electronics, a leader in the OLED camp, sold 1.5 times the number of OLED TVs in September from the previous month.
“Demand from our clients for next year as well as this year is increasing,” said an official from LG Display. “We plan to deal with the increasing demand by maximizing manufacturing capacity of our E4-2 line in our Paju plant, which started operation in earnest in the second half of this year.”