[THE INVESTOR] LG Display on April 11 said nothing has been confirmed on Google’s possible 1 trillion won (US$870.49 million) investment in its production facilities for flexible organic light-emitting diode panels for smartphones.
“Nothing has been decided on the issue,” the company said in a regulatory filing. “It is true that a growing number of clients are showing interest in flexible OLED with the market’s expansion recently.”
Google invests W1tr in LG Display’s flexible OLED facilities
The comments come after news reports a day before that Google is seeking to pour 1 trillion won into LG Display’s OLED production to secure panels for its next smartphone, possibly the new Pixel, and other future projects such as foldable phones.
Amid a global shortage of flexible OLED panels that are currently produced by the sole producer Samsung Display, the US internet giant seems to be turning its eyes to LG Display that plans to start the panel’s full-scale production later this year.
Sources say the two firms have continued the talks for almost two years. Google has reportedly maintained an upper hand in the ongoing talks but has recently become more flexible to rush the panel production.
The possible 1 trillion won funding is expected to help LG Display beef up production at its Korean plants. The company has invested 1.5 trillion won and 1.99 trillion won in its two flexible OLED plants in Gumi, North Gyeongsang Province, and Paju, Gyeonggi Province, respectively.
The Gumi plant will start production by the third quarter this year, while the Paju plant will become operational in the first quarter 2018.
By Lee Ji-yoon (email@example.com)