LG Chem has introduced the world’s first high-efficacy OLED (Organic light emitting diode) panels that can compete against LEDs for smart lighting solutions. OLEDs are better than LEDs due to their high luminous efficacy rate of 100 lumens per watt and long lasting performance with 40,000 hours of lifetime, whereas, LEDs can work only for 20,000 hours with only 60 lumens per watt.
OLED (Organic light emitting diode) is made from organic (carbon based) materials that emit light when electricity is applied. These are more environmental-friendly than LEDs because they are not composed of any hazardous heavy metal components such as mercury or lead.
LG Chem mentioned in an interview that their OLED light panel doesn’t need heat sinks and frames while assembling them, thus it comes with 20-percent lighter weight as compare to LEDs. Furthermore, OLEDs prevent waste of energy, which means it cuts down electricity cost to a greater extent. It will be very beneficial for home settings, as well as, commercial industries to limit their energy wastage and cut down electric bills. You will be able to see these light panels in form of rear lamps in markets of North America and Europe by November. After analyzing consumer’s response, the company will further decide about its launch worldwide.