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LG Display has Secured US$1 Billion in Funding for its Renewed Push into Smaller OLED Display Production in Vietnam

1 cover LG Display secures US$1 Billion funding for smaller OLED panels

 

In late December 2021 Patently Apple posted a report titled “LG has won a contract to be the second supplier of LTPO TFT OLED Panels for the 2022 iPhone 14 Pro Max.” The report noted that “Winning the order for LTPO TFT OLED from Cupertino, despite the volume being small, is critical for the South Korean panel maker as it will allow it to maintain an edge over Chinese rival BOE, which is aggressively looking to expand its share in Apple’s OLED panel supply chain.

 

In 2022, LG Display will also be supplying some of the LTPO TFT OLED panels used by Apple for the 6.68-inch iPhone 14 Pro Max.  

 

Still, Samsung Display will be supplying more units of LTPO TFT OLED panels used in the Pro Max model, while it will be the sole supplier of LTPO TFT OLED panels used in the 6.06-inch iPhone 14 Pro.”

 

We’re learning today that LG’s market share has continued growing as its OLED panels are increasingly being adopted by Apple that used to rely on a single supplier – Samsung. Both Samsung and LG are investing heavily into their OLED business to widen the gap with fast-growing Chinese rivals.

 

And to ensure it continues to gain more Apple orders, LG Display said yesterday that it has secured fresh funding worth $1 billion from multiple global banks with the aim to expand its presence in the smaller OLED market which is dominated by its archrival Samsung Display.

 

Last year, LG Display announced plans to invest about 3.3 trillion won ($2.5 billion) into its production lines in Paju, Gyeonggi Province, and Vietnam as part of efforts to shore up its competitiveness in the smaller OLED market. The firm said the latest funding will be poured into the expansion of its module plant in Vietnam.



Almost 90 percent of the global smaller OLED market is dominated by Korean players. According to market tracker Omdia, Samsung Display makes up 73.1 percent of the market, while LG Display’s share stands at 12.3 percent. For more, read the full report by The Korea Herald.

 

It was also rumored this week that LG Display would produce microOLED displays for Apple’s second-generation mixed reality headset.  

 

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