In October 2015, LG Chem announced that it would sell its OLED lighting business to LG Display for $142 million. The head office LG Electronics decided to implement OLED production in its LG Display Company, which will promote LG Electronics to achieve faster and lower cost OLED lighting.
The deal was announced today. As part of LG Display, LG Display will focus on automotive applications for OLED lighting.
It is understood that LG Chem is one of the leading companies in the OLED lighting industry. In 2013, LG Chem began developing and manufacturing OLED lighting panels, including the world's first truly flexible panel (a few days ago, the company introduced a 406x60mm plastic version of the flexible panel).
Since 2012, LG Chem has been discussing the 5th generation OLED lighting production line. According to reports, the company is planning to build a new $ 185 million OLED lighting production line by 2017. The OLED Association speculates that following the acquisition of the OLED business, LG Display may choose to replace the current 4.5-generation OLED display factory with OLED lighting production.
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