LG Display to invest $655 million to make OLED panels

SEOUL Sun Feb 17, 2013 5:29pm EST

Showgoers look at a display of 55-inch OLED televisions in the LG Electronics booth during the first day of the Consumer Electronics Show (CES) in Las Vegas January 8, 2013. REUTERS/Steve Marcus

Showgoers look at a display of 55-inch OLED televisions in the LG Electronics booth during the first day of the Consumer Electronics Show (CES) in Las Vegas January 8, 2013.

Credit: Reuters/Steve Marcus

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SEOUL (Reuters) - South Korean flat-screen maker LG Display said on Monday it would invest 706 billion won ($654.8 million) to manufacture next-generation displays used in televisions.

LG Display, currently the sole manufacturer of organic light emitting diode (OLED) panels used in TVs, said mass production from its new production line will begin in the first half of next year.

($1 = 1078.1500 Korean won)

(Reporting by Miyoung Kim)

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