LG is kicking its OLED production into high gear. The electronics company is investing nearly $1 billion into its OLED business to produce at least 20% more screens. This move not only increases the amount of screens in stores. It could also lower the price of OLED screens on the market, like gaming monitors.
The news was first reported by The Korean Times, which stated that LG is in the works to raise 1.2925 trillion won for its OLED business. This is the US equivalent of $971 million. This investment comes from the growing demand for OLED screens on all types of technology, ranging from phone screens to large home TVs. The spokesperson for the company said to The Korean Times that this investment is expected to produce 20% more OLEDs than in 2023.
More OLEDs are coming from LG, which could bring lower prices for screens
These OLEDs will go into a myriad of products, as LG doesn’t only produce OLED screens for their own products. Panasonic, Hisense, Philips, Samsung, and Sony all source some of their OLED screens from them. The return on the investment can be huge if more products from all of these retailers are built using the new flood of LG OLED screens that will soon be available.
LG has good reason for refocusing their efforts on OLED, as they are well known for their LCD screens instead. The demand for OLED is rising, particularly for smartphones and tablets. With LG producing 20% more of the screens, they can snatch even more of this market for themselves. Even better, with more screens available on the market, it means that prices for OLED products will likely go down in the future.
You’re next OLED gaming monitor or OLED smart TV could definitely be lower in price thanks to this investment. More OLEDs will flood the market, fulfilling demand and bringing prices down. However, the impact on prices for OLEDs likely won’t be seen for a few years. This is a long-term investment for LG and solid results could take a while. Still, any chance that OLED prices could come down is great news for PC enthusiasts, even if it takes a bit of time.
