Live
- Posters on novel solutions to problems at Tech Summit
- Conduct Tiruchanoor fest akin to Tirumala’s: TTD EO
- Allocate Khelo India funds for sports infra in SVU
- BJP stages protests in various dists over alleged Waqf encroachments
- CM defends BPL ration card cancellation
- Industry should make use of Rs 1-trn ANRF fund: Goyal
- TTD chairman meets Telangana CM
- MITS faculty awarded with PhD by VTU
- Sannapureddy takes charge as RTC regional chairman
- Improve state of public parks, civic chief instructs officials
LG Display to invest additional $750M for its Vietnamese plant
LG Display to invest additional $750M for its Vietnamese plant (Photo/IANS)
LG Display, a major display panel maker in South Korea, will make an additional $750 million investment in its plant in Vietnam, media reports said on Monday, as the company eyes expanding OLED panel productions.
Seoul: LG Display, a major display panel maker in South Korea, will make an additional $750 million investment in its plant in Vietnam, media reports said on Monday, as the company eyes expanding OLED panel productions.
The city of Hai Phong approved LG Display's latest investment plan for its plant in northern Vietnam, according to the Vietnam News Agency.
The expenditure will bring LG Display's total investment for its project in the Vietnamese port city to $3.25 billion, it added.
LG Display is reportedly seeking to begin adding more OLED production facilities next month at the earliest. The company is expected to hire 5,000 more people, it added.
LG Display, the world's largest OLED TV panel maker, set up its Vietnamese OLED module plant in 2016.
According to market researcher Omdia, the world display market is likely to grow 13.8 per cent to $139.8 billion this year, bolstered by the expansion of IT products and premium OLED products amid a pandemic-induced stay-at-home economy.
The global market for OLED panels was expected to soar 28.4 per cent on-year on the back of rising demand for TVs and premium gadgets, reports Yonhap news agency.
