29.8% of Wooree LG Display announced on April 16, 2009 that it will be purchasing 6.8 million shares of Wooree LED. Wooree is a backlight unit and LED packaging company. The 6.8 million shares costing KRW11.9 billion will correspond to 29.8% of Wooree.
17x Revenue Increase Jeff Kim, a Hyundai Securities analyst, stated that Wooree’s revenue will likely increase 17-fold to KRW132.7 billion (US$85 million) in 2011 thanks to a global trend toward LED backlights. Major brands such as Dell and HP are moving quickly to shift to LED backlights. LEDs compared to CCFLs consume less power, does not make use of Mercury and allows for thinner profiles. However, LED-based backlights are still more costly to manufacture than backlights based on CCFL tubes.
90% LED Backlight LG Display is a major Wooree customer and plans to make extensive use of LED backlights in its notebook PCs. By 2010, LG Display expects to have 90% of its notebook PC panels to have LED backlights. In impressive increase from just 8% in 2008.