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LG to invest $655 million in display manufacturing

LG TV Displays

LG, even though not so successful in the Android smart phone market till now (hoping that the second line of Optimus L smart phones are a hit), is very big in manufacturing flat display panels for TVs. In fact, this South Korean manufacturer is the only company which manufactures organic light emitting diodes (OLEDs) used in TVs. And the company is thinking of going even bigger in this sector.

The television industry is not going anywhere soon, with all the awesome TV shows and more importantly, the awesome smart TVs that all these companies are bringing to us. The Apple TV and the Google TV are an example of what technology will be able to do with the traditional industry of television.

The two companies have gone so far into the future, that just a cable connected to your flat screen television in the living room is not interesting enough. And with Apple holding an Apple TV based event later this year, we are sure to see more of the future of the industry. The Cupertino tech giant is expected to open a door for third party developers to develop apps for the Apple TV by releasing the Apple TV SDK.

So, with all this happening, there is no way that the market for televisions will go down. So LG, another major company in the industry, has decided to do its own investing. The company is going to invest 706 billion won, or $654.8 million, in a plant dedicate to the manufacturing of the next generation displays for the televisions of the future. There is no news about where the unit is going to be, but guess that it is going to be somewhere in China is not a bad beginning.

The South Korean display giant is going to start the work soon, and the manufacturing plant is said to go into work in the first half of the next year.

Source: Reuters