LG Display is one of the largest manufacturers of displays in the industry. This business division of the LG Display for several consecutive quarters continues to register a drop in sales. The biggest reason is the huge competition in this segment, especially in the face of Samsung. The company did not intend to put up with the situation and plan for the future to focus mainly on developing displays with OLED technology. These panels produce a growing interest among leading manufacturers.
LG’s focus on OLED displays will be important for its presence and is expected to improve the financial position of the company, reported AndroidHeadlines. The Korean manufacturer has already done serious structural changes, including the merger of five divisions: TV, OLED, IT, Mobile and AD in three new business structures. The data revealed that Huang Yong-gi will manage TV division, and Choi Hyung-Seok assume full control over Mobile Unit of the company. IT division of the LG will be led by Jeong Kyong.
All these changes are made entirely with the idea to optimize business OLED display that will find application in a variety of products from smartphones to TVs. The Korean manufacturer will invest in the construction of two new production facilities with names E5 and E6, which will cost respectively $ 856 million. And $ 1.75 billion. IT division in the future will focus entirely on the development of LCD monitors, as well as a new generation OLED display expected to find a place in the new generation of mobile devices from Apple.