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SEOUL (Reuters) - Chinese flat screen makers, once dismissed as second-class players in the global LCD market, are drawing envious looks from big names such as LG Display Co Ltd and Samsung.A man walks out of the headquarters of LG Display in Seoul, October 20, 2011. REUTERS/Jo Yong-Hak

While the Korean giants were busy developing next-generation organic light emitting diode (OLED) TVs, little-known Chinese companies have started selling a type of display that are sharper than the standard LCD and cheaper than OLED.

Until last year, the UHD market had been almost non-existent, with just 33,000 sets sold in the 200 million-unit LCD TV market. Since then, shipments have soared around 20-fold, thanks to China, data from research firm IHS shows.

Chinese consumers who want brighter and sharper images but can’t afford OLED screens made by LG and Samsung Display, a unit of Samsung Electronics Co Ltd, are turning to UHD.

But its slow introduction into the market and austere prices have thrown open a window of opportunity for UHD makers, in this case Chinese companies like BOE Technology Group Co Ltd and TCL Corp’s LCD unit CSOT.

By comparison, Japanese flat-screen pioneer Sharp Corp reported a razor-thin 0.5 percent margin. LG Display, the world’s No.1 LCD maker, posted a 5.6 percent margin.

Samsung Display, a unit of Samsung Electronics, had a margin of 13 percent, the biggest in the industry. But excluding its fledging OLED business, its LCD margin is between 3 and 7 percent, according to a Bernstein forecast.

“They’ve got also strong captive customers - Chinese TV manufacturers and a booming China market. It will take quite a while for Samsung and LG, which made a strategic mistake by ignoring the potential of UHD, to overtake them,” Nam said.

Jolted by the reality of a growing UHD market, Samsung Electronics unveiled a 110-inch UHD TV in January. Interestingly, the UHD displays were not made by Samsung Display, but were produced by Taiwan’s AU Optronics.

“Even with some expansion of the Chinese panel suppliers we do expect Samsung and LG Display to stay dominant and continue production in LCD,” said Sweta Dash, director at IHS.

While Samsung and LG Display are investing billions of dollars in OLED this year, the two giants are also broadening their product lineups to include more popular 50 to 60-inch UHD models.

BOE Technology is now planning to raise 46 billion yuan ($7.5 billion) in the biggest Chinese equity offering this year, to build panel production lines and increase its stake in its LCD venture BOE Display Technology.

This LG offering is action packed with a top notch led screen, an IPS panel system, Dolby sound system and tiny bezel; creating a TV that is so outstanding that it leaves its competitors in the dust.

SEOUL, Korea (Aug. 30, 2019) – LG Display announced today the opening of its 8.5th generation (2,200mm x 2,500mm) OLED panel production plant in Guangzhou, China, ushering in an era of producing 10 million large-size OLED panels a year.

LG Display’s new Guangzhou OLED panel plant started mass-production from this month and will mainly manufacture large-size high-resolution OLED products including 55-inch, 65-inch and 77-inch panels. The initial monthly capacity will be 60,000 sheets, which will be further expanded to 90,000 sheets by 2021.

The company expects to produce over 10 million OLED panels a year by 2022 when this monthly capacity of 90,000 sheets is combined with the 70,000 sheets currently manufactured at its OLED panel plant in Paju, Korea, as well as an additional 45,000 sheets to be produced at its 10.5th generation (2,940mm x 3,370mm) plant in Paju from 2022.

The new 8.5th generation OLED panel plant is operated by LG Display High-Tech China (LG Display High-Tech China Co., Ltd, LGDCO), a joint venture established between LG Display and Guangzhou Development District (GDD). LG Display holds a 70 percent stake with KRW 2.6 trillion in capital.

“Based on our vast experience and capability in OLED production, LG Display will make every effort to ensure the success of LG Display High-Tech China,” said Dr. Sang Beom Han, CEO and Vice Chairman of LG Display, at the opening ceremony attended by Korean and Chinese officials, top executives from LG group, and representatives from customer and partner companies. He added, “With our dual OLED panel production sites in Korea and China, the company will further accelerate the OLED trend in the global premium TV market by providing large-size OLED panels to the world.”

The new 8.5th generation OLED panel plant is built on 74,000 m² of land -- the equivalent of around 10 football fields. With nine levels above ground, the total floor area amounts to 427,000 m². The total area of the LG Display Guangzhou Cluster, which includes LCD panel and module plants, partner company complexes and additional facilities, amounts to 1.3 million m².

As many companies are not able to mass-produce large-size OLED panels due to technical limitations, LG Display, the pioneer and only manufacturer of large-size OLED panels in the world, plans to further widen the gap with its competitors and strengthen its leading position starting from the operation of its Guangzhou OLED plant. Given that LG Display’s customers, including LG Electronics, Sony, Philips, Hisense, Skyworth, Changhong, and Konka, operate TV production plants in China, the company will further boost its competitiveness by providing technology and products in a timely manner.

In addition, as LG Display has been running an 8.5th generation LCD panel plant in Guangzhou, excellent conditions optimized for 8.5th generation display production have already been established in this region in terms of infrastructure, tariffs, and labor and distribution costs.

The sharp increase in OLED TV demand is driven by a growing number of global TV brands manufacturing OLED TVs. The total number of those brands is now 15 worldwide and will reach 16 in 2020 when the largest TV maker in the U.S., Vizio, joins the trend. Accordingly, LG Display’s large-size OLED panel sales are on a significant and constant rise. The company saw an increase in OLED TV panel sales to 2.9 million units in 2018 and yet another increase to 3.8 million units is anticipated in 2019. LG Display expects its large-size OLED panel business to turn to profitability on an annual basis for the first time this year due to these increasing sales.

In order to meet the rapid growth in demand for OLED panels in the premium TV market, LG Display has decided to implement a two-track OLED production strategy by manufacturing large-size OLED panels in both Korea and China. LG Display’s large-size OLED panel production capacity will further increase once the 10.5th generation OLED panel production line at its P10 plant in Paju, Korea goes into operation in 2022. To this end, the company recently announced an additional investment of KRW 3 trillion into this 10.5th generation OLED production line. Through this increased production capacity, LG Display can improve productivity and profitability via economies of scale, thereby advancing the OLED era.

LG managed to cut the manufacturing cost of its OLED TV panels by quite a significant margin with the help of its factory in China. Its cost-cutting efforts are said to affect the production of an even wider range of TVs in the future, which could possibly create a positive ripple effect for consumers. LG is known for many things, from its range of smart appliances to high-end OLED TVs and even its tech-infused face mask.

Aside from producing various innovative smartphone models over the years, the South Korean tech giant is also known as one of the biggest suppliers of LCD and OLED display panels. LG Display, a subsidiary of LG, has been operating for over 20 years now, supplying display panels for renowned tech companies such as Apple, ASUS, Dell, Philips, and Sony. With the arrival of LG"s rumored 97-inch TV reportedly just around the corner, it makes sense for LG to find means of ensuring the cost of its panels won"t surpass the retail price of its TVs.

It seems like LG"s already taking measures for just that, and it all starts with its latest LG Display factory which opened last year in Guangzhou, China. According to flatpanelshd, its Chinese factory was able to lower the cost of its 48-inch displays by up to 14%. This was achieved by minimizing its cost and expenses in terms of overhead, labor, depreciation, and sales management. While the results affected only certain displays, the Display Supply Chain Consultants, a group that specializes in display-based supply chains, believes the same will also apply to its 65-inch displays soon, as well as double LG"s display panel sales from 2020. In addition, LG"s Guangzhou factory is said to be capable of manufacturing various display panel sizes at reduced production costs.

LG might have folded in the smartphone game, but its impact in the broader consumer electronics spectrum is still significant. That said, many well-known brands like Sony and Panasonic still rely on LG for their smart TV displays, and LG"s cost-cutting measures should allow it to meet larger demands faster and more efficiently. This also helps hasten the mass production of its much larger 80 to 100-inch TVs in the process, possibly allowing them to hit shelves sooner than anticipated.

While this might not exactly guarantee that consumers will soon be getting bigger TV screens for cheaper prices, it could likely increase supplies for larger TV sets. The more supply of such bigger-screen TVs appearing on the market relative to its consumer demand, the better the likelihood of their prices becoming more affordable. Of course, consumers shouldn"t hold their breath much in terms of drastic price reductions any time soon, especially since LG is still very much capable of charging customers $100,000 for a TV.

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China-based OLED panel producers BOE Technology Group and TCL China Star Optoelectronics Technology have steadily boosted their output of high-end OLED panels. By next year they’ll control some 43 per cent of global demand for OLEDs.

Analysts at Display Supply Chain Consultants (DSCC) say that South Korea’s technology giants LG Display and Samsung currently have a 55 per cent market share (in 2022) and helped by what DSCC describe as ‘generous state subsidies”.

DSCC adds that if China overtakes South Korea in its share of OLED production, China will dominate virtually the entire display industry. Most Chinese-made OLED panels are small to midsize ones for smartphones, so the focus will then be on whether Chinese companies acquire capabilities for manufacturing large OLED panels for TV manufacturing.

In South Korea, for example, “the government has stepped in to halt the transfer and sale of large-screen OLED technology and manufacturing equipment to China”, Tamura said. Meanwhile, Japanese company JOLED has developed a prototype 65-inch OLED screen with TCL CSOT, with which it has a financial tie-up.

South Korean companies have already lost out to China in the race to invest in producing large LCD panels. In large OLED panels, South Korean companies are steadily going on the defensive, suggests DSCC.

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