LG to pour $1.75 billion in "paradigm shifting" OLED displays production
The LG G Flex 2 has a flexible OLED screen made by LG Display
Amidst a slump which saw profits shrink by 91% in the past quarter, LG Display announced its plans to double down on flexible OLED panel production. The company is aiming to invest $1.75 billion in its flexible OLED production lines, preparing to meet growing demand from the smartphone market.
OLED screens have become an increasingly popular choice for TV and smartphone screens with their falling costs and performance advantages. But it's flexible OLED screens which will spark much needed innovation in design and functionality. LG Display CEO, Dr. Sang-Beom Han, describes the transition as a "paradigm shift" that's both "a challenge and an opportunity", adding that the company is "determined to become the leader" in the OLED display market.
Previously, LG invested $400 million in flexible OLED production lines, and is rumored to be at work on a new smartphone with a foldable OLED display.
Things that are NOT allowed: