LG Display announced its unaudited financial results for Q2 2019, and updated on its upcoming OLED projects.
First of all, LGD announced an additional investment of KRW 3 trillion ($2.5 billion) P10 10.5-Gen OLED TV fab in Paju. Last month it was reported that LG display has started to install some of the Oxide-TFT deposition equipment (supplied by Applied Materials and Jusung Engineering). The mass production at the first lines in the P10 fab is expected to begin in 2021. LG Display did not disclose any more details regarding this new $2.5 billion investment plan yet.
LG Displays is stepping up its efforts to "shift towards a more OLED-focused business structure" in the second half of 2019. LGD is optimistic regarding its OLED TV business as the Guangzhou OLED fab is starting production, which will almost double its OLED production capacity. In addition, the company hopes that it will start production in a new pOLED fab soon in Paju. This is likely to be LG's 6-gen E6 flexible OLED fab - which is already in production (although the situation is not clear) but LG is adding a new production line in the fab.
This is good news from LG - there were some reports that LGD is thinking about shutting down its pOLED production lines, but the company's CFO now says that LG aims to increase its mobile pOLED panel production. LGD also confirmed that it aims to launch its first pOLED automotive panels by the end of 2019.
LG's revenues in Q2 2019 decreased 5% to KRW 5,353 billion ($4.56 billion USD), and the operation loss was KRW 369 billion (up from KRW 228 billion in Q2 2018).