| Market | Q1’23 Share of Revenues |
| TVs | 19% |
| IT Devices | 38% |
| Mobile & Other Devices | 32% |
| Automobiles | 11% |
A couple of months back, when LG Display released its Q1’23 financials we saw a significant increase in its automotive display sales. These sales were projected to more than double from 1.6 trillion won ($1.25 billion) in 2022 to 3.5 trillion won ($2.7 billion) in 2025. Hi Investment & Securities reported that LG Display’s intake of orders for automotive displays in 2022 were expected to exceed 4 trillion won ($3.1 billion), a 40% increase from the previous year and there was a growing interest in organic light emitting diode (OLED) displays,
For the past four years, LG Display has been a market leader in the premium automotive display market, especially for displays larger than 10 inches. The more recent news, out today, LG’s is now opening up the supply of polyimide OLED panels solely to the auto sector hoping to reach a broader range of vehicles and targeting European car manufacturers in particular. The company is also rejigging its supply chain and dropped DNP for LG Innotek for FMMs.
What Display Daily Thinks
Polyimide OLED displays are an optimal blend of rigid and flexible components, show superior thermal stability, excellent flexibility, and electrical insulation, making them highly suitable for applications in automotive applications. The remarkable comparison that should made here is the one that shows the possibility that automotive displays may take a bigger share of LG Display’s revenues at a pace that will far outpaces existing projections.
There is ample evidence that the flexible OLED market’s pace of innovation and adoption is being accelerated by the battle lines being drawn up between Korean and Chinese manufacturers in search of volume commitments. Does LG have too big a head start in automotive to feel the heat from the competition?
