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LG Display to acquire OLED business from LG Chem

Consolidating OLED production of displays and lighting into a single company could enable LG Display to accelerate OLED lighting and reduce its costs

19 Oct 2015 | Editor

According to news reports LG Display is set to acquire the LG Chem OLED business as the companies aims to focus on its core business of high-end materials (including OLED materials) and batteries. The idea is that consolidating the OLED production of both displays and lighting in the same company will enable LG to advance OLED lighting more quickly - and at a lower cost.

In a regulatory filing, LG Chem said it plans to sell its OLED business unit to LG Display on 15th December 2015 for 160 billion won (US$142 million).

An unnamed LG Chem official is reported to have said, "LG Chem will focus on its material business, while LG Display will develop OLED-based products."

www.lgdisplay.com    www.lgchem.com    www.lgoledlight.com   

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