OLED TV sales to drive revenue growth of LG Elec, LG Display in 2021

[Source: LG Electronics Inc.]

South Korea’s LG Group’s bet on OLED will likely pay off nicely from this year, with OLED TVs contributing more than 30 percent to LG Electronics’ TV revenue and fueling LG Display sales of 30 trillion won ($26.5 billion) this year as the flexible and ultra-thin screen quickly becomes the mainstream for home entertainment, according to TV industry projections.

OLED TVs took up 30 percent of the company’s total revenue from TV business in the first three months of this year, up 12.1 percentage points from a year earlier, according to global technology industry research firm Omdia. Since the share took up 30 percent throughout the first half, the annual share also will likely be above 30 percent, up from 23.8 percent in 2020 and 18.8 percent in 2019.

LG Display, the dominant provider of OLED TV panels, is expected to ink 2 trillion won in black after losses for two straight years.

LG Display is expected to achieve sales milestone of 30 trillion won ($26.5 billion) this year after stagnation under 25 trillion won in the past three years. OLED TV panel shipments are estimated to rise 86 percent on year to 8.32 million units this year, 320,000 units higher that the earlier forecast of 8 million units.

LG Display started operation of the 8.5-gen OLED production line in Guangzhou, China in July last year and at full capacity, the annual turnout is expected at maximum 10 million panels.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]