Posted July. 19, 2017 07:25,
Updated July. 19, 2017 07:33
According to the global market survey firm IHS on Tuesday, LG Display shipped 4.041 million large-size display panels for automobiles in the first quarter to account for 16.8 percent of the market. The Korean firm became the world’s No. 1 by beating AUO of Taiwan, which shipped 3.883 million units (16.1 percent). They were followed by Innolux of Taiwan, which delivered 3.578 million units (14.9 percent), and Sharp of Japan, which shipped 2.9 million (12.1 percent).
LG Display is growing at a breakneck speed in the large-size automotive display market. Up until 2015, Innolux had been dominating the market in both shipment and sales revenue in the large-size automotive display market. At the time, LG Display shipped 11.55 million displays to post 576.5 million U.S. dollars in sales revenue, ranking fourth or fifth in the market. The company was lagging behind AUO and CPT of Taiwan and Sharp of Japan. From the second half of 2016, LG excelled its competitors in both shipment and sales revenue, and rose to No. 1 in the first quarter of this year. IHS forecasts that LG Display will become the top player in shipment and sales revenue in the second and third quarters as well.
LG Display plans to expand supply of large-size automotive displays, and thereby increase the portion of automotive displays in its overall sales from the current 1 percent level to the 10 percent level in 2020. To this end, the company recently started operation of production lines at P5 Plant in Gumi, North Gyeongsang Province, which produces large-size display panels. The company had been producing automotive displays only at third- and fourth-generation display plants, which produce small and medium-size panels.