Industry LG Electronics and Lufthansa Technik establish joint venture for aircraft displays

The new joint venture should combine LG's advanced, lightweight and flexible OLED display technology with Lufthansa Technik's aviation business capabilities to create new markets for on-board aircraft applications such as welcome board screens and interior linings.

"We are very excited to be joining hands with Lufthansa Technik to expand the reach of LG's innovative consumer electronic technologies to commercial aircrafts," said Kwon Soon-hwang, president of LG's Business-to-Business Company.

"Both partners contribute a globally recognized reputation in their respective business areas to create a new flying experience for the passengers," added Dr. Johannes Bussmann, chairman of Lufthansa Technik's executive board.

The new company will be based in Hamburg, Germany and should commence operation in first half of 2019.

OLED stands for organic light-emitting diode. An OLED is a light-emitting diode in which the emissive electroluminescent layer is a film of organic compound that emits light in response to an electric current. OLED technology can offer a higher picture quality with improved power efficiency and less weight than existing technologies.