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LG Display Accelerates Business Restructuring, Turns to Smartphone and Auto Panel Business

According to Businesskorea, LG Display, a panel maker under LG, is accelerating their business restructuring, shifting from TV and monitor panels to panels needed for smartphones and cars.

Foreign media mentioned in the report that sources in the panel field revealed that in LG Display’s sales in April, the proportion of mobile device panels, including smartphones and cars, is expected to exceed 40% for the first time.

Sources in the panel field also revealed that throughout this year, sales of LG Display’s panels for smartphones and automobiles will increase significantly, and are expected to reach 10 trillion won, or about 7.6 billion U.S. dollars, the largest since 2021. increase.

In the panel business of LG Display, the panels required for smartphones are currently mainly OLED panels supplied for Apple’s iPhone.

Since entering Apple’s iPhone supply chain, LG Display’s share has been increasing and is currently expected to have a share of about 18%, but it is expected to increase to 28% in the iPhone 15 series, which will be launched in the second half of this year.

With the improvement of automobile intelligence, the automobile panel business has also become an important development direction of LG Display. Industry experts predict that sales of LG Display’s automotive panel business will reach 3.5 trillion won in 2025, doubling from 2022. Foreign media also mentioned in the report that LG Display received 4-5 trillion won in auto panel orders last year, an increase of about 40% year-on-year.

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Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
Threza Gabriel is a news writer at TechGoing. TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.

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