Photo: LG
LG Display plans to increase its focus on the production of automotive displays as the company is trying to expand its business beyond TVs and monitors.
The chip shortage that nobody is talking about anymore has taught the world several important lessons. First of all, focusing on just a single customer can’t work in the long term, especially if that customer ends up struggling. Second of all, prioritizing certain customers or industries limits the revenue potential of a company.
LG Display has somehow experienced both. The company’s biggest customer is Apple, as LG Display supplies the OLED Panels for the iPhone 14 Pro Max. In the last few years, however, the firm has specifically focused on TVs and monitors, ignoring obvious growing signs from other industries. Including the automotive world, that is.
Last year, orders for car displays increased by no less than 40 percent versus 2021. The automotive world is rapidly pushing for new-generation vehicles, and the electrification trend is turning everything into a screen inside the cabin.
As such, LG Display no longer wants to ignore this market and plans to focus heavily on it beginning right now. The company expects its sales to more than double until 2025, with double-digit growth to be recorded every year.
In the long-term, LG Display wants to focus more on cars and phones, though for the latter, it continues to rely heavily on Apple. The company, however, hopes to control a 50 percent share next year in these two markets, especially as it’s investing in production capacity.
In 2022, more than four in ten displays produced by LG were specifically aimed at either cars or phones. In 2021, these two industries accounted for just 26 percent of all displays built by the company.
The firm now considers investing in cars and phones a priority. This is valid not just in the coming years, but in the long term as well. The company wants to become a main supplier of displays for EVs and to consolidate its position as a leading name as the automotive industry is stepping towards self-driving vehicles.
LG has always been considered a potential partner for Apple as the firm expands to cars. The iPhone maker is developing its own electric car, with the launch expected to happen in 2025, at the earliest. LG could be in charge of supplying the screens in the cabin.
Apple is aiming for a living room on wheels approach, which means the available screen estate is going to be significant. The first version of the car, however, could use a more conventional approach, as the Apple Car is expected to launch with a regular cabin, a steering wheel, and pedals. Full self-driving capabilities could land toward the end of the decade.
LG Display has somehow experienced both. The company’s biggest customer is Apple, as LG Display supplies the OLED Panels for the iPhone 14 Pro Max. In the last few years, however, the firm has specifically focused on TVs and monitors, ignoring obvious growing signs from other industries. Including the automotive world, that is.
Last year, orders for car displays increased by no less than 40 percent versus 2021. The automotive world is rapidly pushing for new-generation vehicles, and the electrification trend is turning everything into a screen inside the cabin.
As such, LG Display no longer wants to ignore this market and plans to focus heavily on it beginning right now. The company expects its sales to more than double until 2025, with double-digit growth to be recorded every year.
In the long-term, LG Display wants to focus more on cars and phones, though for the latter, it continues to rely heavily on Apple. The company, however, hopes to control a 50 percent share next year in these two markets, especially as it’s investing in production capacity.
In 2022, more than four in ten displays produced by LG were specifically aimed at either cars or phones. In 2021, these two industries accounted for just 26 percent of all displays built by the company.
The firm now considers investing in cars and phones a priority. This is valid not just in the coming years, but in the long term as well. The company wants to become a main supplier of displays for EVs and to consolidate its position as a leading name as the automotive industry is stepping towards self-driving vehicles.
LG has always been considered a potential partner for Apple as the firm expands to cars. The iPhone maker is developing its own electric car, with the launch expected to happen in 2025, at the earliest. LG could be in charge of supplying the screens in the cabin.
Apple is aiming for a living room on wheels approach, which means the available screen estate is going to be significant. The first version of the car, however, could use a more conventional approach, as the Apple Car is expected to launch with a regular cabin, a steering wheel, and pedals. Full self-driving capabilities could land toward the end of the decade.
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