LG Display on Wednesday shared the list of its customers for its automotive OLED panels.
The South Korean display panel maker had General Motors, Volvo, Jaguar Land Rover, Porsche, and Lucid as its customers, LG Display Senior Vice President of Automotive Business Group Byeong Koo Kim said at IMID 2023 conference at Busan held by the Korea Information Display Society.
LG Display expected a market share of 62% in the automotive OLED market this year and expected to maintain over 60% market share up to 2026 every year, Kim also said.
Additionally, the company will hold over 40% market share in LTPS LCD in 2026 as well, the executive said, meaning that combined with OLED it will hold over 50% market share in the premium automobile display market.
LG Display’s customers are expected to apply its second-generation tandem OLED panels between 2024 and 2025.
The second-generation panels have brightness improved by over 30% and power efficiency by over 40% compared to its predecessor, Kim said.
LG Display is also preparing a third generation of tandem OLED panels that will improve brightness and power efficiency by 20% compared to the second generation, he also said.
The South Korean company supplies both plastic and glass substrate OLED panels to its car-making customers.
According to LG Display, plastic-OLED panels are aimed at flagship vehicles priced at over US$80,000; hybrid OLED panels, that mix plastic and glass, are aimed at premium vehicles priced between US$50,000 and US$80,000; and LTPS LCD panels are aimed at budget vehicles priced between US$30,000 and US$50,000.