LG Display, the display-panel making affiliate of LG Electronics, has formed a new OLED division that will exclusively focus on commercializing its namesake technology, the company said.
The South Korean tech giant has been vocal about its ambition to lead in OLED TVs and said it was unafraid to be left the sole vendor of the technology. Arch-rival Samsung has opted for QD LCD technology on its TVs for next year, citing low demand for OLED, while LG is expected to release more OLED TV models in 2015.
LG's new division is to be headed by the company's CTO Yeo Sang-deog, who was recently promoted to president from executive vice president for his contribution in securing LG's OLED leadership and expanding client base in TVs and mobile.
All OLED related projects will come under the umbrella of the new division. A new department to manage OLED buying clients has also been formed.
"We've created the new division to create synergy by gathering all the hitherto scattered OLED-related departments into one," a LG Display spokesman said.
LG is also set to quadruple OLED panel production this month in an effort to bring down the price of OLED TVs, making them a more attractive option to consumers. The company's 55-inch OLED TV currently costs almost 3 million won ($2,765).
The South Korean tech giant is also hard at work to minimize burn-in effects, one of the biggest detractors to the touted technology, in which some images are left "stuck" on the screen when on-screen for long stretches. LG said already commercialized products don't have the problem and that researchers were working to permanently solve the issue.