[CES2020] Jung Ho-young LGD President "Full Suspension of TV LCD Domestic Production Next Year"

Jung Ho-young LG Display President's First Press Briefing
Focus on Next-Generation IT Products Including Foldables
Automotive Plastic OLED Launch in Q2
OLED Sales Share to Exceed 50% Next Year

[Asia Economy Reporter Park So-yeon] Jung Ho-young, President of LG Display (photo), announced plans to halt domestic production of LCD panels for TVs next year and focus capabilities on next-generation displays.

On the 6th (local time), a day before the opening of the world's largest home appliance and IT exhibition 'CES 2020', Jung held his first press conference since taking office at the Las Vegas Convention Center in the United States, announcing three key initiatives: ▲ Accelerating LCD structural innovation ▲ Enhancing competitiveness in the Plastic OLED (P-OLED) business ▲ Popularizing large OLEDs.

Jung Ho-young, President of LG Display

Regarding accelerating LCD structural innovation, President Jung said, "We will convert TV LCD panel production lines to IT use and mostly wind down domestic TV LCD panel production by the end of the year." He explained, "For LCD panels below 6th generation, I believe domestic production is not appropriate even for general-purpose monitors," adding, "The Paju plant will focus on producing IT product panels such as advanced products." He further stated, "In the future, LCD production will focus more on Chinese factories than domestic ones, and the business will be developed mainly for commercial use."

Along with restructuring the LCD business, LG Display plans to strengthen future-oriented display businesses such as foldable displays and displays for aircraft and automobiles. President Jung said, "We plan to launch foldable laptops within this year in collaboration with customers," noting, "Foldable technology can be implemented regardless of smartphones, laptops, or tablet PCs. It will be carried out sequentially according to customer schedules." He also mentioned, "Rollable and foldable display technologies can be applied to automobiles," adding, "Currently, it is difficult to eliminate wrinkles on foldable displays. We have been researching design concepts and are proceeding in a direction to improve this."

He also said that the P-OLED business is viewed as a field with many growth opportunities, and they plan to focus capabilities there. This is because the importance of interior design in cars is increasing with the development of electric and autonomous vehicles. P-OLED, which offers high design freedom and advantages in image quality, response speed, and weight, is considered a blue ocean. President Jung stated, "Automotive and aviation displays should account for nearly 30% of total sales," and added, "Automotive P-OLED is scheduled to launch at the end of the second quarter this year, and its profitability is expected to be higher than that of home appliances and IT."

To popularize large OLEDs, the plan is to provide differentiated values unique to OLEDs such as rollable, bendable, and cinematic sound. President Jung expressed confidence, saying, "Last year, the OLED business surpassed the break-even point," and "This year, OLED sales will account for about 40% of total sales, and next year will exceed 50%."

This content was produced with the assistance of AI translation services.