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LG Display seeks 30% auto-screen share by 2018

LG Display Co., the world’s second-largest flat panel maker, is aiming to almost double its share of the in-vehicle auto screen market.

The company is testing displays using organic light-emitting diode technology for German carmakers, James Shin, head of LG Display’s Automotive Business, said in an interview.

The Seoul-based company, which supplies screens for Apple iPhones, wants to boost its share of the auto screen market to 30 percent by 2018 from 16 percent now, Shin said.

Electric components, including screens for entertainment and dashboard displays, are playing a larger roles in cars and are expected to account for about half the cost of a vehicle’s parts within two years from 30 percent now, according to Shin.

LG Display, which competes with Japan Display Inc. and Sharp Corp., had 500 billion won (€360 million) in auto panel revenue last year. Increasing its share of a rapidly growing market will quadruple LG Display’s sales by 2018, Shin said.

“People are now watching TVs at home and using smartphones while moving, but in the near future they will be able to work and watch movies in the car,” Shin said. “Cars will eventually become another cultural and living space.”

Shin declined to identify the German automakers with which LG Display is working. While the company currently focuses on screens used for navigation and parts of the control displays, there is scope to use them more widely within the vehicle, such as for the entire dashboard, Shin said.

“What carmakers are dreaming of eventually is vehicles that are entirely covered in displays,” Shin said.

LG Display last month posted net income of 258.3 billion won in the quarter ended June on sales of 5.98 trillion won.