Samsung will set up the 8th generation IT OLED panel production line, aiming to start production in 2024

Core Tip: Recently, the president of Samsung Display, a panel business of Samsung Electronics (005930-KR), promised to invest more resources in the research and development and production of OLED panels for IT such as laptops and PCs, aiming to start production in 2024. Hope to achieve annual sales of 50 billion US dollars.
Recently, the president of Samsung Display, a panel business of Samsung Electronics (005930-KR), promised to invest more resources in the R&D and production of OLED panels for IT such as laptops and PCs. $50 billion in sales.

ChoiJoo-sun delivered a speech at IMID, South Korea's annual panel technology event on Wednesday (24th), revealing that Samsung plans to build an 8th-generation OLED panel production line for IT products, with a width of 2200 mm and a height of 2500 mm. The goal is to start production in 2024. .

He is quite optimistic about the huge potential of OLED panels in the market. It is estimated that by 2030, the size of the OLED market will grow significantly from the current US$40-45 billion to US$100 billion.

ChoiJoo-sun did not elaborate on the size of the potential investment, but said the company has set a target of $50 billion in annual sales.

Due to the loss of price-cutting competition from Chinese panel manufacturers, Samsung Display announced in 2020 that it will end its LCD business and turn to higher-end products with higher profits, mainly OLED panels. The company stopped production of LCD TV panels from June this year, and the LCD production line in Asan, Chungcheongnam-do, is expected to be converted into an OLED production line.

As part of its product diversification strategy, Samsung Display spent about $300 million earlier this year to buy German OLED panel startup CynoraGmbH to strengthen its technology development in folding phone panels. ChoiJoo-sun said that in the future, it will also focus on the development of MicroOLED and automotive panels for AR/VR products.