LG shows that it is committed to getting more orders for car panels and has upgraded its business architecture.

February 23, according to foreign media reports, there are obvious advantages in large-size OLED panels, and LG, which has made progress in the OLED panels required for smartphones, shows that the business architecture has been adjusted by focusing on car panels, and they are also committed to getting more orders for car panels.

According to agency data, LG shows that sales of car panels are expected to reach 3.5 trillion won (CTOnews.com Note: currently about 18.515 billion yuan) in 2025, double last year's 1.6 trillion won (CTOnews.com Note: current about 8.464 billion yuan).

Foreign media also mentioned in the report that LG, which is committed to winning more orders for car panels, also received a large number of new orders last year, estimated to exceed 4 trillion won (CTOnews.com Note: currently about 21.16 billion yuan), an increase of about 40 per cent year-on-year.

In addition, thanks to the growth of the automotive electronics market, related car panel orders have also increased sharply, with OLED panel orders accounting for 45 per cent of all orders shown by LG, up from 30 per cent in 2021.

The research institute predicts that with the increase in demand for OLED panels of 10 inches and above, the size of the global car panel market is expected to grow from $8.6 billion in 2021 (CTOnews.com Note: about 59.34 billion yuan currently) to $9.6 billion this year (CTOnews.com Note: about 66.24 billion yuan currently).

In the report, foreign media mentioned that in the high-end car panel market of 10 inches and above, LG has ranked first for four consecutive years and has great potential for growth. LG display is the only manufacturer that can produce OLED panels on plastic substrates for cars, and is already supplying to relevant manufacturers.