LG Electronics (LG) and Lufthansa Technik AG will jointly develop, produce and market LG’s innovative OLED displays for commercial airplane cabins, the companies announced today. The new venture will be based in Hamburg, Germany and will commence operation in the first half of 2019.
The new joint venture will 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.
Closing of the agreement, which was inked earlier this week in Hamburg, is subject to regulatory approval.
About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 77,000 people working in 125 locations around the world. With 2017 global sales of USD 55.4 billion (KRW 61.4 trillion), LG comprises five business units 8213; Home Appliance & Air Solutions, Home Entertainment, Mobile Communications, Vehicle Components and B2B ― and is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators.
About Lufthansa Technik AG
With some 35 subsidiaries and affiliates, the Lufthansa Technik Group is one of the leading providers of technical aircraft services in the world. Certified internationally as maintenance, production and design organization, the company has a workforce of more than 25,000 employees. Lufthansa Technik’s portfolio covers the entire range of services for commercial and VIP/special mission aircraft, engines, components and landing gear in the areas of digital fleet support, maintenance, repair, overhaul, modification, completion and conversion as well as the manufacture of innovative cabin products.