LG Display to invest $7 billion in OLED production, second-quarter profit jumps

SEOUL (Reuters) - South Korea's LG Display Co Ltd (034220.KS) said on Tuesday it will invest 7.8 trillion won ($7 billion) in production facilities to make both large and small organic light-emitting diode (OLED) panels.

LG Display said in a separate filing it will also increase capacity for large OLED panels in China through a joint venture.

It also said second-quarter operating profit soared to 804 billion won ($721 million) from 44.4 billion won a year earlier.

That compared with an average forecast of 862 billion won from a Thomson Reuters I/B/E/S survey of 17 analysts.

($1 = 1,114.4200 won)