LG Display signs exclusive deal with Panasonic to supply transparent OLED panels

[Photo provided by LG Display Co.]

LG Display Co. has been tapped to exclusively supply transparent organic light-emitting diode (OLED) panels for Japan's Panasonic Corp.

The new 55-inch OLED displays would be used to make digital signage products set for release in countries including Japan, Taiwan, Singapore and Australia starting next month.

LG Display shares rose 1.65 percent to close Monday at 15,400 won ($13.9).

The South Korean display maker will churn out the transparent OLED panels at its factory in Paju, Gyeonggi Province.

LG Display nabbed the deal as it is the only company that can reliably mass produce transparent OLED panels.

In August, LG Display supplied the world’s first transparent OLED displays for subway trains in Chinese cities including Beijing and Shenzhen. The next-generation panels have been gaining traction in various fields from autonomous cars, airplanes and subways to smart home and show windows.

The transparent display market is projected to grow an average 46 percent per year to be worth more than $4.93 billion by 2024.

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