LG to invest $8.71 billion in OLED

lg-55-inch-oled-tvLG Display said it will invest more than $8.71 billion to build a large plant to make panels using organic light-emitting diode (OLED) panels.

It is not clear where it is getting the dosh from, LG has not exactly been rolling in it of late so it is pretty much betting the farm on the ultra-clear display technology.

The company said it has begun building the plant, called P10, in Paju, South Korea, to make panels across all product segments including large screens for TVs and flexible OLED panels for devices such as smartwatches and auto displays.

Production is expected to begin in the first half of 2018.

Japan’s Nikkei Asian Review claimed that LG Display was building a new plant in anticipation of Apple adopting OLED technology for its iPhone in 2018. A spokeswoman for LG Display declined to comment.

Even without the fruity cargo cult’s involvement,┬áLG Electronics Inc and its affiliate LG Display are investing heavily on OLED for TVs, and LG Electronics recently slashed the prices of TV sets in the United States using OLED in a push to popularise the technology.