LG Display Co., South Korea’s top display maker, will ramp up annual output of organic light-emitting diode (OLED) display from this year’s 1.7 million to 2.5 million units next year to amplify its pitch on premium OLED TVs starting with Europe.

“Europeans are very receptive to new technologies, and almost all industries in Europe offer a sizable premium market, making Europe a prime market for expanding the OLED business,” Yeo Sang-deog, head of LG Display’s OLED division, said during the Europe OLED Day event held in Munich, Germany on Tuesday (local time). The executive revealed the company’s bold ambition to change the global TV market landscape after successfully expanding OLED presence in the European premium TV market.

As part of efforts to speed up the adoption of OLED TV display technology, the world’s leading OLED manufacturer would boost OLED display output to 1.7 million units by the end of this year and 2.5 million units by next year, said Lee Sang-hoon, head of TV sales and marketing at LG Display.

The company will engage in more aggressive marketing schemes in Europe and cooperate with various partners and clients to win over the liquid crystal display (LCD) sector and another premium TV display technology, the quantum dot-based display, promoted by its archrival Samsung Display Co.

“OLED is thinner, lighter and capable of more diverse designs than its rivals and will emerge as a core display technology in the era of the fourth industrial revolution,” Peter Zec, initiator of the Red Dot Design Award, said during the event. “LG Display, a leading display player, will play a major role in this new era.”

The Korean display maker celebrated the Europe OLED Day with major electronics firms including LG Electronics, Loewe, Bang & Olufsen and Philips. European Imaging and Sound Association, market research firm GfK and Red Dot Design Studio also attended the event.

By Kim Dong-eun and Kim Hyo-jin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]