Aug. 11 (Bloomberg) -- LG Display Co., the world’s second- largest flat panel maker, is aiming to almost double its market share supplying screens for vehicles as automotive interiors become more like living rooms.
The supplier of screens for Apple Inc. iPhones 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 wants to boost its share of the auto screen market to 30 percent by 2018 from 16 percent now, according to Shin.
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 ($485 million) in auto panel revenue last year and aims to quadruple 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 during the Aug. 8 interview. “Cars will eventually become another cultural and living space.”
Shin declined to identify which German automakers LG Display is working with.
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, according to Shin.
“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.
Samsung Electronics Co. is the world’s biggest maker of flat panels.