SEOUL, Jun. 20 (Korea Bizwire) — LG Display Co. shipped the most automotive displays in the first quarter, beating Japan Display Inc. to take over the top spot in the fast-growing sector, industry data showed Thursday.
The display arm of LG Electronics Inc. shipped 6.08 million auto displays in the January-March period, up 32.5 percent from a year earlier, according to the data from market researcher IHS Markit.
The South Korean firm’s market share accounted for 16.8 percent of the car display market, slightly ahead of Japan Display’s 16 percent over the period.
In terms of value, LG Display’s auto display sales totaled US$413.8 million during the cited period, far ahead of its Japanese rival’s $280 million, data showed.
LG Display has been focusing on promoting the automotive display business as one of its future growth engines as a variety of surfaces in vehicles have been replaced with displays in recent years.
The company said it has been providing its automotive displays to leading global automobile makers such as Daimler Benz, BMW, Hyundai Motors and Tesla.
“Demand for panels 5 inches or more in size has grown as dashboards and center fascias are replaced with displays,” LG Display said in a release.
“The latest industry trend provides a good business opportunity for LG Display, which has focused on auto displays of over 5 inches.”