The photo provided by LG Display Co. on Jan. 2, 2023, shows its automotive display product.
LAS VEGAS, Jan. 2 (Korea Bizwire) — LG Display Co., a major South Korean display maker, said Monday it will present its latest display technologies tailored to specific customer needs and environments at CES 2023, slated to open in Las Vegas later this week.
The firm will set up a booth wholly dedicated to automotive display panels, and another booth for small and midsized foldable organic light-emitting diode (OLED) panels at the world’s largest consumer electronics show that runs from Thursday to Sunday.
Under the duel themes — Always On and Advanced Mobility Lifestyle — state-of-the-art display technologies will be on display, the company said, promising to offer optimal user experiences in any setting.
The demand for automotive display panels has risen sharply in recent years due to the popularity of electric vehicles and better connectivity and electronics in vehicles.
According to research firm Omdia, the automotive display market is forecast to grow 8.7 percent annually to reach US$10.5 billion in 2025.
It said its OLED automotive display can provide “the best picture quality with a high color gamut and wide contrast” and “outstanding visibility and perfect black.”
Another key product, plastic OLED, allows “a multi-curve freeform design along the dashboard with its thin and light structure,” the company said, “opening a new era in the automotive interior design with its superior design and picture quality.”
LG Display eyes to offset falling profitability of its liquid-crystal display (LCD) business, by putting more resources into small and medium-sized foldable OLED panels used in mobile phones, tablet PCs and portable displays.
The company has been pushing technological boundaries, with the development, in November, of 12-inch high-resolution stretchable displays, which can significantly expand the application scope of electronic devices.
The 12-inch elastic display, equipped with micro-LED lights, can be expanded by up to 20 percent in size while maintaining high picture quality, the company said.
Meanwhile, LG Display stopped producing LCD panels for TVs at the end of last year amid falling profitability and fierce competition from Chinese rivals.
For the July-September period, the company reported an operating loss of 759.3 billion won (US$584.9 million), compared with an operating profit of 529.3 billion won a year ago. Sales fell 6.3 percent to 6.77 trillion won during the same period.
Demand was falling at an “unprecedented level” both for LCD and premium OLED panels, the company said during an earnings call in October, after years of pandemic-driven strong growth for personal IT devices.
Facing mounting challenges, the company has been trying to turn its business around by focusing on LCD panels for IT products and the high-margin OLED business, as well as expanding its high-value made-to-order business.
(Yonhap)
