LG, the multinational electronics company, has always topped in satisfying its customers with brand new products. This time the South-Korea based company has come up with some outstanding products to catch the attention of the public, and the OLED-based transparent panel is one such invention.
On Wednesday, the largest supplier of OLED display panels declared their news of taking part in Logistics Fair 2021 as well as in the Korea Railways. The primary motive is the unveiling of their new, transparent, and innovative technology: OLED. Although the panel measures 55-inch and comes with a 40 % transparency ratio, the specialty lies in the fact that it has the potential to replace windows of cars as well as trains.
The reason behind the replacement of traditional window panes with futuristic OLEDs is that the OLEDs, when compared to liquid and glass crystal panels, have the capacity of mirroring a high level of transparency and that too without any backlight boast. This can be a path-breaking initiative as the OLEDs can be used for displaying schedule times for running trains along with other commercial advertisements. The displays can be used for entertainment purposes as well.
The company has provided panels to many including Beijing, Fuzhou, and Shenzhen. The panels were used for underground trains. In recent times, LG plans to diversify its business and supply of panels in European and Asian, and American countries as well. The Executive Vice-President of LG, Oh Chang-ho, said that “the company will continue providing solutions that can maximize the value of space through innovative platforms that are only possible to be built with OLED”.
The company has experienced a major breakthrough in the display market. As confirmed by the market researcher Prescient and Strategic Intelligence, LG is expected to experience an annual expansion of 46 percent, from $524 million to $4.9 billion by 2024
The company has been experiencing expansion in the automobile market as well. According to data shared by Omdia, LG has been successful in retaining its position as a topper in the market for consecutive 11 quarters. It is anticipated that the company would undergo an increase in profit from $50 million last year to $264 million by coming 2022. 91% of the share, which LG holds in the market, is no less. On the other hand, the giant company, as estimated by market watchers, would post $25 billion won in sales. In addition to this, in terms of operating profit, LG is expected to gain a profit of 2.4 trillion by the end of this year only.