LG Display a leading display panel maker in South Korea is reportedly investing an additional $750 million at its plant in Vietnam to expand its OLED panel productions.
The city of Hai Phong has approved the latest investment plan for the LG display in North Vietnam. According to the report, the total investment in the Vietnamese port city LG display will reach $3.25 billion.
LG Display will start adding more OLED manufacturing facilities from next month. The company will hire another 5,000 people.
The market researcher Omdia, LG Display, the world’s largest maker of OLED TV panels, set up its Vietnamese OLED module plant in 2016. The market display is expected to grow 13.8 percent to $139.8 billion this year and this will affect the expansion of IT products and premium OLED products.
The global market for OLED panels is expected to grow by 28.4 percent a year on the back of increased demand for TVs and premium gadgets.
|Via|
