LG Display, a major supplier of OLED panels for devices including the Apple Watch, intends to spend $4.2 billion to build new facilities for production of the sophisticated displays, according to DigiTimes.
The Taiwan-based news site has sourced the story from Korea’s Digital Times, and it is indeed in the city of Paju in South Korea that the facilities, named P10, will be constructed. However, LG Display is also still planning, for late November, the discussions necessary for finalizing the project. Production is expected to commence at the new facilities “sometime between 2017-2018”.
Interestingly, LG is said to have recently upped its OLED manufacturing to meet “upcoming demand”, while rumors suggest that Apple is readying a switch from standard LCDs to more advanced OLEDs for future iPhones. The Cupertino firm could therefore benefit handsomely from LG’s new round of spending.