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LG Group appear to be backing away from the consumer market after claiming yesterday that the growth of the Company in the future would come from B2b is facing new OLED competition after it was confirmed that TCL is set to commence the production of OLED panels in China that will be significantly cheaper than LG OLED panels.
Currently LG dominates the OLED panel production market, now with the entry of Chinese manufacturers such as TCL and BOE their dominance is set to be challenged at a time when their LG Display business is struggling to make a profit.
As LG was highlighting the acceleration of its B2B operations yesterday, as one of the central components of its overall business with the Company claiming that by 2030, the company expects that its B2B business which includes selling advertising and subscriptions will account for 45 percent of total sales, it was revealed, in South Korea that archrival TCL is set to start OLED production.
The LG B2b announcement made at a press conference in South Korea included claims that LG is rapidly strengthening their none consumer business of TV’s and appliances, to include capabilities across a wide range of areas, including vehicle components, HVAC systems, built-in appliances and smart factory solutions.
Their expansion into automotive mobility and new business segments is part of the company’s strategy to accelerate its business transformation away from Consumer and selling products via retailers.
With their LG Display business under pressure LG is now punting on digital signage for various commercial spaces, including hotels, retail stores, offices, schools and hospitals, as well as IT products ranging from high-spec monitors to LG gram laptops, commercial robots and EV charging solutions to deliver the growth and profit margins that their consumer business is not delivering.
The Company will then expand production in 2025 to include full TV panels.
It’s claimed that TCL production will commence towards the end of 2024, starting with a 21.6-inch 4K OLED panel for monitors.
The Chinese Company then plans to expand production to other OLED panels for IT devices in 2025 on a Generation 5.5 line.
Currently OLED panels are typically produced in vacuum chambers through thermal evaporation (VTE), using a spray on process.
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Inkjet-printing, on the other hand, uses a precise inkjet printer to apply the OLED material where needed, reducing waste material. This method can potentially lead to lower production costs.
In 2020, TCL CSOT partnered with Japan OLED (JOLED) to commercialize inkjet-printed OLED panels to compete with LG Display and Samsung Display’s OLED technologies.
JOLED filed for bankruptcy as of May 2023, but TCL has picked up their inkjet printing systems and is now set to start production.
TCL CSOT has hinted that printed OLED TVs will arrive in 2025 at the earliest.
However, the company has yet to make a formal announcement on the Generation 8.5 factory, known as T8, required to produce the larger 42-98-inch panels.
In the last few years, TCL CSOT has showcased several OLED prototypes including a 65-inch 8K OLED, a 31-inch 4K dome-shaped OLED, and a 14-inch 2.8K laptop OLED.
