LG Display to invest $2.8 bln in light-emitting diode facilities (updated)

LG DISPLAY

17/08/2021 24:46

(Adds details)
    SEOUL, Aug 17 (Reuters) - LG Display Co Ltd  034220.KS  said
on Tuesday it plans to invest 3.3 trillion won ($2.8 billion) in
small- to mid-sized organic light-emitting diode (OLED) panel
production facilities. 
    The investment will take place starting this month until
March 2024, the display panel maker said in a regulatory filing.
    The investment will be in South Korea for sixth-generation
OLED panels, and the facility is expected to begin operations in
2024, a spokesperson said, without elaborating. 
    Analysts said LG Display's strategy of efficient OLED
production expansion by achieving economies of scale added to
its better-than-expected operating profit in the second quarter
to 701 billion won ($607 million).  urn:newsml:reuters.com:*:nL1N2P401F
    
 ($1 = 1,164.8800 won)

 (Reporting by Joyce Lee; Editing by Sonya Hepinstall and
Stephen Coates)
 ((jungyoon.lee@tr.com; +82 2 6936 1467;))