LG to Build World’s Largest LCD Plant in China, Gearing up for OLED

The world can never have too many LCD TVs, LCD monitors, LCD phone screens, LCD tablet screens and other LCD-laden devices, right?

It appears that LG, arguably one of the leading sprinters in the race to advance TV technology, agrees. The company recently announced that it will construct the world’s largest LCD plant in Guangzhou, China. The plant is expected to begin production in the second half of 2014.

The new plant is a collaborative effort from LG and one of its Chinese partners, Skyworth Digital Holdings. LG has invested a total of $4 billion (70 percent), while Skyworth digital Holdings holds 20 percent and the Guangzhou regional government, 10 percent.

LG was the first in the world to develop a 100-inch LCD screen and has held its reputation as being at the forefront of LCD production. The company’s products can be seen not only on TVs, but also laptops, tablet devices and display screens.

In addition, according to the Korea Times, some industry experts believe LCD production lines will eventually be upgraded to make ultra-thin organic light-emitting diode (OLED) displays for televisions.

The Mirror predicts that OLED TVs may very much be the future of home cinema, as 2 million sets are estimated  to be manufactured around the world within the next two years, which will drive down development costs.

Compared to its LCD or LED counterparts, OLED screens have stronger color reproduction, a better contrast ratio, faster refresh rates, wider angles of view and lower power consumption. They also reach new levels of thinness because they don’t need backlighting.

With higher technology comes a higher price tag. LG’s new 4K OLED TV, set for launch in 2013, is estimated to cost around $10,000. However, LG has a bright outlook for the future. In an interview with CNET, top LG executives predicted that OLED TVs will become mainstream and more affordable as early as 2014, depending on the technology advancement as well as consumer demand.

With its new plant in China and high quality products, LG looks like it’s making some serious moves in solidifying its place at the top of the global TV  industry.