LG to invest $655 million for production of OLED TV panels

In a bid to one up in the OLED TV market, LG has confirmed that its display subsidiary – LG Display will invest $655 million (706.3 billion won) to setup a new production M2 line. The M2 line will be constructed in Paju, Gyeonggi Province where it will produce eighth generation WRGB (2200mmx2500mm) OLED TVs with a monthly capacity of 26,000 glass substrates.

Mass production of the substrates are expected sometime in the first half of next year.

LG’s move is clearly to gain a traction against its arch-rival, Samsung who lead the OLED market with a near-monopoly status.

LG is one of the first companies to launch a 55-inch OLED TV.