SEOUL, April 22 (Reuters) - South Korea’s LG Display (034220.KS) said on Thursday it would invest 250 billion won ($225.7 million) to triple capacity of a line producing organic light-emitting diode (OLED) displays.
OLED displays use organic, or carbon-containing compounds, that emit light when electricity is applied. They produce crisp images and do not need backlighting, making them slimmer and more energy-efficient than liquid crystal display (LCD).
They are mainly used in high-end mobile phones such as smartphones and industry experts expect them to expand to large-sized displays such as flat-screen TVs.
LG Display, the world’s No.2 maker of LCD panels, said the investment was part of a drive to boost its new growth engines of OLED, e-paper and solar cells.
LG Display is currently building a new OLED line for production in the third quarter and the new investment will triple production capacity of the line from the second half of next year, it said in a statement.
Reporting by Miyoung Kim; Editing by Jonathan Hopfner