According to a Korea Economic Daily Report (http://www.koreaittimes.com), LG Display will supply OLED (organic light-emitting diode) panels to German auto manufacturers including Daimler-Benz AG.
The company plans to strengthen its presence in the automotive display market as the demand for smart cars and electric vehicles is rising.
The company said on June 26 that it signed supply contracts with Germany's major car makers such as Daimler-Benz for displays used in next-generation smart cars to be launched within a few years and that it is currently conducting reliability tests on the items. A company official commented, "We expect plastic OLED panels will fast replace the currently available glass-made LCD panels."
LG Display will employ futuristic technologies such as transparent display as a way to move into the small-sized display market such as that for automotive displays. Although the company has led the global market for larger-sized displays for four consecutive years, it is lagging behind in the small-sized display market. Last year, it was ranked fourth with the market share of 13 percent, after Innolux of Taiwan (23%), Japan Display Inc. (21%), and Sharp of Japan (18%).
Han Sang-beom, LG Display president, said on the 25th in a press conference at the company's Paju plant, "For the next three years we plan to increase our sales for automotive display panels by 30 percent a year to take the leading position." Last year the company posted 500 billion won in sales of automotive displays. It aspires to double the sales by 2016.