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| Kim Byeong-koo, second from right, head of LG Display's Auto Business Group, poses with Erik Rein, left, senior vice president of Bosch, Arne Flemming, second from left, senior vice president of Bosch, and Song Kyung-ho, head of LG Display Europe, after winning the top award at the Bosch Global Supplier Award 2023 ceremony, in this photo provided by LG, Monday. Courtesy of LG Display |
By Baek Byung-yeul
LG Display was named the top supplier for German auto parts maker Bosch, demonstrating its market dominance in the automotive display business, the display maker said Monday.
LG Display said it recently became a top global supplier of Bosch, adding this is the first time for the global-leading auto parts maker to select display manufacturers. Every two years since 1987, Bosch has given out the global top supplier award to the top 0.1 percent of its 35,000 suppliers worldwide for outstanding performance.
"As in-vehicle displays have become increasingly important due to advances in self-driving technology and the recent trend of launching more luxury and larger vehicles, Bosch established a new award for automotive displays and LG Display was selected as the first winner," the display maker said.
LG Display has supplied its displays to Bosch for more than a decade since 2012, and the display company was recognized for its differentiated technology, strict quality control and stable supply capabilities in all automotive display products, including OLEDs.
LG Display is leading the global market by supplying automotive displays for digital clusters and center controls to top-tier auto parts makers and carmakers, including Bosch. In the 10-inch and larger premium automotive display market, the company has been the world's No. 1 in market share by revenue since 2018.
The company plans to increase its market dominance by increasing the supply of OLED products as well as LCD products. Starting this year, the company is mass-producing its second-generation Tandem OLED, which has increased screen brightness and lifespan, reducing power consumption by 60 percent and weight by 80 percent compared to LCDs, making it suitable for eco-friendly electric vehicles, the company said.
"As the world's No. 1 automotive display company, winning the award recognizes the company's efforts to provide differentiated customer value, including superior technology and quality and prompt customer support," said Kim Byeong-koo, head of LG Display's Auto Business Group. "We will continue to strengthen our order competitiveness with differentiated technologies."
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