OLED TV: Introduction and Industry News - Page 8

LG Display reported its financial results for Q3 2022 - with a net loss of 774 billion Won (around $540 million USD) and a decrease of 6.3% in its revenues.

LGD says that demand for its panels is low - and in fact the company says that demand for premium OLED panels is dropping at an "unprecedented level" - especially in Europe. The market for OLED TVs is especially low.

According to reports from Korea, LG Display decided to halt OLED TV production at its 8.5-Gen fab in Paju, for about a month or maybe more, as demand for OLED TV panel has declined.

It seems as if LGD's inventories are increasing - in fact according to the report, LGD's inventory at the first half of the year increased 73.4% compared to the same period last year. OLED TV makers like LG Electronics and Sony are also seeing their own TV inventories up.

LG Display announced that its OLED TV and monitor panels has been recognized as having a perfect black level in any environment, from UL Solutions. The company received the new verification for its panels ranging from 42-inch to 97-inch.

LGD says that it is the only company that has been recognized in this verification for TV and monitor panels.

US-based Jet Aviation announced that it has delivered its quietest and lightest cabin interior to date. The VVIP interior uses six 55-inch curved WOLED screens, three on each side above the window line.

The company says that the new OLED displays were installed as of to reduce the cabinetry required to house the screens, providing further opportunity for reducing the weight of the cabin and maximizing the floor space of the interior.

According to reports from Korea, the OLED market is slowing down, as part of the overall weakness in the consumer electronics markets and specifically in the display market. It is reported that OLED TV sales dropped 18.1% in the second quarter, while in the second half of 2022, LGD's OLED TV panel shipments decreased by 11.4%.

The slowdown is also apparent in the OLED smartphone market, and DSCC estimates that 554 million OLED smartphones will ship in 2022, a 13% decrease compared to 2021.

According to reports, LG Display will start producing mid-sized W-OLED panels, as it is concerned that demand for TV panels is on the decline.

LGD will start producing 27-inch WOLED panels as early as by the end of October, targeting small TVs and gaming monitors. LGE will be LGD's first customer, and it plans to release its 27-inch OLED display in Q1 2023.

Last month LG announced its first bendable OLED monitor/TV, the OLED Flex LX3. The company now announced that it will start shipping it next month, for $2,999.

LG's OLED Flex LX3 is a bendable OLED monitor/TV that features a flexible 42" 4K 120Hz WOLED panel that can change from a flat shape to a 900R curved one (with twenty levels of possible curvature settings). Other features include Dolby Atmos, two 40W speakers, HDMI 2.1, VRR, ALLM and G-SYNC and AMD FreeSync support.

The Elec reports that LG Display lowered its internal OLED TV panel shipment goal in 2022, as it realizes it will not be able to ship the 7.8 million panels it hoped for. The TV market in general is seeing lower demand this year, and in addition LGD's hopes to sell panels to Samsung Electronics did not materialize.

Looking to 2023, however, LGD plans to produce 9.2 million OLED TV panels (out of which 5.4 million will be produced at the company's Guangzhou fab).

DSCC says that spending on equipment for the production of large area OLED panels (used in TVs and monitors) have decreased from $3 billion in 2019 to $2.05 billion in 2020, $1.47 billion in 2021 and will drop further to $1.42 billion in 2022.

DSCC estimates that in 2023, the spending on such equipment will be zero. But OLED producers will resume buying large OLED equipment in 2024. Spending in 2024 will amount $2.01 billion, and in 2025 - $1.51 billion.

LG Electronics started accepting pre-orders of its largest OLED TV yet, the 97" OLED G2. The price of the TV, in Korea, is 40 million Won (around $28,500).

LG's G2 Gallery OLED TV series, are offered in 55-, 65-, 77-, 83- and 97-inch sizes. The TVs offer 4K 120Hz OLED evo G panels, LG's Alpha 9-5 video processor, 4 HDMI 2.1 inputs, HDR10, HLG, Dolby Vision and WebOS 22.