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LG Display to raise OLED TV panel output sixfold to 10m by 2021

Panel maker bets on new technology that is changing premium TV industry

OLED ThinQ televisions on display in the LG Electronics booth during the 2018 CES in Las Vegas, U.S.   © Reuters

SEOUL -- LG Display said that it aimed to produce 10 million organic light-emitting diode television panels in 2021, an increase of six times from last year's 1.7 million, as it bets all its resources on the new technology which is changing the landscape of the premium TV industry.

Lee Sang-hoon, senior vice president of the company, said that demand for OLED TV panels had increased sharply over the past few years and would explode further in the coming years. The company said that sales of OLED TVs accounted for half of sales in its high-end segment of items of $2,000 or more last year, and is expected to reach 70% of that this year.

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