LG Display teams up with Disney filmmakers
The corporate logos of LG Display and Walt Disney Studios' StudioLAB
By Kim Yoo-chul
As a major turnaround approaches in terms of third-quarter profit, LG Display, the world's leading display maker, said Wednesday it has teamed up with Walt Disney Studios' StudioLAB.
The partnership calls for LG Group's display affiliate to supply its advanced organic light-emitting diode (OLED) panels for Disney's in-house production operations.
“The partnership will last over the next three years,” LG said. “One striking point is that LG is the first focused on the development of both professional and consumer displays.
“The two companies will work on a variety of projects to equip Walt Disney Studios' filmmakers with new production tools and provide consumers with immersive experiences tied to the studios' film releases.”
Financial details of the partnership are unknown.
OLED displays have advantages over conventional displays, primarily the realization of higher-quality images.
“This partnership reiterates our commitment to providing the best display capabilities to Disney's amazing filmmakers and technologists and our dedication to offering an ideal viewing experience of their beloved characters and worlds,” Oh Chang-ho, who manages LG's TV business, said.
Matthew Deuel, director of innovation partnerships for StudioLAB, said: “This collaboration opens a whole new dimension of future possibilities and enables us to accelerate the innovation we need to quickly develop and test new types of experiences, now more than ever.”
Walt Disney Studios is home to film and animation studios including Disney and Walt Disney Animation Studios, Pixar Animation Studios, Marvel Studios, Lucasfilm and Blue Sky Studios. Marvel Studios already uses OLED technology during its filmmaking process, having deployed LG's 88-inch 8K OLEDs for use in episodic visual effects review and color finishing.
Powered by a rebound in the price of conventional liquid crystal displays (LCDs), LG Display is widely anticipated to return to the black for the three months ended Sept. 30. General consensus by stock analysts said LG is expected to report some 7 trillion won in sales during the third quarter of this year, while its operating profit was estimated at some 106 billion won, shifting from an operating loss of 436.7 billion won a year ago.
On a related note, Samsung Display and LG Display, Korea's top two display manufacturers, are “seriously reviewing” plans to extend the period of LCD production output amid rebounding LCD prices.
“Amid the continued spread of COVID-19, demand for large-sized LCD panels mostly for use in TVs is looking very solid,” a high-ranking industry executive said. “LG Display and Samsung Display have already notified each of their parts suppliers over their readjusted LCD output plan.”
The two display manufacturers earlier said their production of LCDs would halve because of the rise of budget Chinese rivals in the already saturated display market.