Thanks to the increase in panel prices in the second half of last year, LGD entered the profit period at the end of last year. Profits in the fourth quarter of 2016 almost doubled year-on-year, setting a record for the highest profit in history. Even if the panel price increase tends to be flat this year, LGD's profit growth has not stopped. In the first quarter of this year, LGD recorded an operating profit of 1.03 trillion won (approximately $915.08 million), a year-on-year increase of 2498%, far exceeding market expectations.
LGD's continued strong profit growth is due to its diversified product layout. In terms of liquid crystals, the growing trend of large screens has increased the demand for large screen panels. In 2016, the global LCD TV panel shipments totaled 260 million units, down 3.5% year-on-year, while the total shipment area increased by 6.5%. The average size of TV products has risen significantly. However, in actual production, the production capacity of LCD large screens is still very limited, and the price of the large screen market is rising and the supply is in short supply. LGD is a small number of manufacturers with large-volume LCD screens. The sales of large-screen displays are quite impressive.
In terms of small screens, with the advent of Apple, the popularity of OLEDs is obvious to all. Its existence has already oppressed the market of small-screen LCD panels. Many panel manufacturers have chosen to shrink small and medium-sized LCD production lines. According to data from market research firm IHS Markit, Samsung has dominated the small and medium-sized display market for the sixth consecutive year with 31% market share. The LGD plans to invest 4 trillion won in the Pazhou, South Korea to establish a P10 plant, and its intention is to become the second largest supplier of iPhone OLED screens, shifting the focus of the company from TV panels to mobile phone panels.
In this year's industrial planning, the key word of LGD is undoubtedly "OLED." Of its planned capital expenditures of up to 5 trillion won ($4.42 billion), 70% will be used to increase production of large-size and flexible OLED panels. In addition to the above-mentioned actions in small and medium sizes, LGD does not relax in large-size OLEDs. It said that the 2017 OLED TV panel production target is set at 1.8 million pieces, which is twice as much as the output of 900,000 pieces last year.
A large part of LGD's active expansion of OLEDs is due to the active promotion of OLED TV market by domestic and foreign manufacturers. In China, Skyworth, Konka and Changhong have formed the brand camp of OLED TVs, and continue to promote their popularity in the mainstream market by reducing prices and releasing new OLED TVs (such as wallpaper TV). Zhongyikang predicts that the sales of OLED TVs in the Chinese market from 2017 to 2020 are expected to be 180,000 units, 550,000 units, 1.5 million units and 2.5 million units respectively. The growth momentum is very strong.
In terms of foreign brands, in addition to the original LG and Philips, the Japanese three giants Sony, Panasonic, Toshiba also entered the field of OLED TV. As a high-end TV brand, Sony's OLED TV A1's sales volume has been booming this year, opening up a new direction for OLED technology. The major TV manufacturers with weights at home and abroad have entered the market, which has enhanced the brand thickness for OLED TVs, and also made consumers doubt the OLED technology in various aspects, which fully proves the leading position of OLED technology in the industry. .
LGD Li Tinghan said that in the upcoming era of artificial intelligence and the Internet of Things, the display needs to have the characteristics of "Everywhere", "Anyfrom" and "Borderless", and LGD has always believed that The best display technology that can satisfy the above three characteristics is OLED.
From the "first year of promotion" last year to the "outbreak year" of this year, the development speed of OLED TV is obvious to all. However, the industry still has a lack of "slow fever" evaluation for the development of OLED TV. It is expected that the investment in OLED can be rapidly turned into output in the face of mainstream consumers. In fact, compared with liquid crystal, the development of OLED TV has grown rapidly. This year, with the leading price reduction of Skyworth OLED TV, it has settled in the high-end mainstream market. In today's market demand and cognitive evolution, the joining of more manufacturers will accelerate the popularity of OLED, and consumers' expectations for OLED will soon become a reality.
LGD said that for them, the most concerned issue is not how many people, how many manufacturers are supporting OLED, but the vacancy of OLED in production capacity. At present, LGD has at least E4 line expansion, E5/E6 new construction, and P10 factory to build four projects involving OLED mass production. It believes that OLED technology will become the core of the next five years, and as the panel maker with the most large-size OLED and flexible panel production capacity, LGD's production of OLED will also increase significantly with market demand.
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