Friday, September 12th, 2014
SEOUL, KOREA - LG Chem has set out to engage in the OLED lighting device business in earnest. The LG Group company said on September 11 that it has developed new OLED lighting panels comparable to LED lighting devices in terms of energy efficiency and life span without glaring. The company will begin mass-production of the items from November this year.
The new product is higher in light efficiency and life span than existing brands such as Osram, Philips, and Panasonic. The average light efficiency of 60 lumens per watt has been improved to 100 lumens per watt which is almost comparable to that of LED light bulbs. The life span of 20,000 hours has been lengthened to 40,000 hours, which is similar to that of LED lights of 50,000 hours.
The biggest advantage of OLED lighting solutions is there is no glaring and heat, which does away with the need for the backlight unit. But the main reason OLED lighting devices have gained little foothold in the market is its high price. The current average price of LED lights is 20,000 won while that for OLED light devices is more than five times higher.
LG Chem has reduced the production cost of OLED devices by coming up with a modular OLED lighting engine. A company official explained, "We could increase the production yield significantly by applying a new OLED material. Once we begin the mass-production of the devices in earnest, we will be able to reduce the unit cost almost as low as that of LED lights."