UPDATED. 2024-07-17 07:31 (수)
Corning taking more shares in glass for LG Display’s automotive OLED
Corning taking more shares in glass for LG Display’s automotive OLED
  • Yang Tae Hoon
  • 승인 2021.08.12 17:33
  • 댓글 0
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US firm secures over 10% market share within a year
Image: TheElec
Image: TheElec

US glass giant Corning has increased share of glass supply to LG Display for automotive OLED panels, TheElec has learned.

Corning’s glass has grown to over 10% of those used by LG Display within a year, people familiar with the matter said.

The South Korean has previously procured around 70% of the glasses for automotive displays it uses from China’s Tunghsu Optoelectronic and around 30% from South Korean firm Tovis.

But Corning is now taking away these suppliers’ shares within LG Display’s supply chain, the people said.

The US glass giant is offering its glasses at more competitive prices compared to its rivals, they said.

Demand for more larger and premium-looking displays is increasing from automobile companies.

Corning has running an aggressive marketing campaign to take a larger slice of this growing sector, they said.

The US company has decades of relationship with automobile companies from supplying them with ceramics, a person working at a local glass company said.

Corning also has the capacity for volume production from years of supplying Samsung and Apple with mobile cover glasses.

Tovis focuses on liquid crystal display modules and industrial monitors.

LCD modules account for over 60% of its current sales.

The firm has saw decline in its sales from LG Electronics’ exit of their mobile business.

Last year, Tovis recorded 278.2 billion won in sales and 5.6 billion won in operating loss.

It has been focusing on automotive displays to offset this loss in recent years.

A Tovis spokesperson said while Corning’s efforts are impacting its business, it can sufficient react to the move.

The firm is also supplying LG Display, besides cover glasses, with circuits, backlighting units, color filters all in module form, they added.

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