Ap­ple sup­plier to spend $8.5 bil­lion on fu­ture screen tech­nol­ogy

The Pak Banker - - COMPANIES/BOSS -

SAN FRAN­CISCO: LG Dis­play Co., a sup­plier to Ap­ple Inc., plans to in­vest about 10 tril­lion won ($8.5 bil­lion) over the next three years to de­velop next-gen­er­a­tion screens to re­verse slow­ing growth and gain an edge over com­peti­tors.

LG Dis­play will shift its in­vest­ment fo­cus to screens pow­ered by tiny or­ganic light-emit­ting diodes, or OLEDs, the Seoul-based com­pany said in an e-mailed state­ment Mon­day. The world's largest maker of liq­uid crys­tal dis­plays is bet­ting on growth in de­mand for ad­vanced dis­plays, in­clud­ing fold­able screens, for wearable de­vices, cars and tele­vi­sions. The dis­play maker has set its sights on new tech­nol­ogy as com­pe­ti­tion from up-and-com­ing Chi­nese man­u­fac­tur­ers in­ten­si­fies and de­mand for con­sumer elec­tron­ics slows. The leader in large OLEDs is try­ing to ex­pand its foot­print in smaller de­vices, as it grap­ples with tepid sales and de­clin­ing prices for LCD screens in TVs and com­put­ers.

"The in­vest­ment aims to make LG Dis­play grow as a sus­tain­able com­pany," Chief Ex­ec­u­tive Of­fi­cer Han Sang Beom said in the state­ment. LG Dis­play's pri­or­ity is to "pi­o­neer this un­tapped OLED mar­ket to sus­tain our lead­er­ship in the dis­play in­dus­try and keep the com­peti­tors at bay." The global OLED mar­ket is forecast to grow to $28.3 bil­lion by 2022, from $8.7 bil­lion last year, the com­pany said in the state­ment, cit­ing es­ti­mates by re­searcher Dis­playSearch.

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