LG wants to "lead the approaching era of flexible OLED screens for mobile devices," and it's investing some serious money to realize that goal.
The company will invest 1.99 trillion South Korean Won (approx. $1.75 billion) in a new production line for its sixth-generation flexible OLED display.
"A paradigm shift to OLED represents both a challenge and an opportunity for the display industry," CEO and Vice Chairman of LG Display Sang-Beom Han said in a statement. "LG Display is determined to become the leader in the fast-growing OLED market through timely investments to maximize efficiency."
The new production line will be located at LG's "P9" plant in in Paju, South Korea. The display maker has already invested some KRW 500 billion (more than $440 million) to build "supporting infrastructure" for the new production line, which is scheduled to be operational in the second half of 2018.
Once it's complete, the new production line will be able to pump out 15,000 input sheets a month.
At the same time, LG is building another new plant, dubbed "P10," in Paju, where it also plans to produce OLED displays, including large-size and flexible models. First announced in November, that plant is also currently under construction.
Between the new P10 plans and its expansion of P9, LG says it's "laying a firm foundation to lead the next generation market for smartphones with its advanced OLED technology."
LG is already a leader in the OLED market; its rollable OLED display (video below) was one of the most talked-about products at CES this year.