LG Display announced on Thursday it will be investing 1.05 trillion won (US $908 million) to construct a new OLED display plant, reporte Reuters.
In the company’s regulatory filing, the project will start sometime in third quarter and will be completed by the second quarter of 2017. Estimated monthly production capacity after finishing the production expansion, will be about double that of LG display’s existing production lines.
LG display has been actively expanding its OLED production capacity over the past year, as it targets clients, such as Apple and sister firm LG Electronics growing demand for OLED screens in smartphones and smartwatches.
The only firms in the industry with the capacity to mass produce OLED screens are Samsung Display and LG Display, which both plan to make more flexible and less power consuming OLED screens.
According to analysts, LG Displays has been ramping up OLED production capacity to keep a competitive edge over Chinese rivals.
