LG Display Co., South Korea's major display panel maker, said Monday it will begin to mass-produce OLED panels soon at its factory in Guangzhou, China, after a one-year delay due to the new coronavirus outbreak.

LG Display said it is currently producing 8.5 generation OLED panels at the factory on a small scale but will begin mass production soon.

The company completed the construction of the factory in August 2019, but its plan to produce the panels was largely held off due to the COVID-19 pandemic.

Demand for TVs has declined as major TV sales outlets in the United States and Europe closed down amid the virus outbreak. But LG Display needs to increase panel production to meet demand for OLED panel TVs.

Details about the mass production may come out soon as Jeong Ho-young, CEO of LG Display, and other executives are believed to have a plan to visit the Guangzhou factory on Wednesday.

LG Display is currently producing OLED panels at a factory in Paju, just north of Seoul. Its monthly production capacity reaches some 70,000 panels.

The Guangzhou line is capable of producing 60,000 OLED panels per month, and the company plans to increase the capacity to up to 90,000 panels after next year. (Yonhap)