LG Display strengthens automotive display business, orders nearly 10 trillion won this year

According to the Korean media Business Korea, a report by the global market research agency Omdia shows that LG Display ranked first in the automotive OLED display market with a market share of 91% in the second quarter. The market size of OLED displays for automobiles will increase from 56 billion won in 2020 to 680 billion won in 2025, an increase of more than 1,000%. With the advent of the era of self-driving cars, the demand for high-definition large-size OLED displays for various in-car entertainment will increase.

It is reported that LG Display has continued to lose money due to the sluggish display market, but its automotive electronics business has performed well. Related orders this year have reached nearly 10 trillion won.

According to another source, LG Display plans to stop the operation of the P7 plant in Paju, South Korea this month, which produces 43-inch to 50-inch TV LCD panels. LG Display will only produce products agreed in long-term contracts with customers, and then discontinue the P7 factory.