LG to invest $8.7 billion in new OLED plant

November 27, 2015
(AP Photo/Ahn Young-joon)

(AP Photo/Ahn Young-joon)

By Brian Han

LG Display is putting all its chips on the table.

The South Korean company announced that it will spend approximately 10 trillion won ($8.7 billion) on a new production facility that manufactures organic light-emitting diode (OLED) panels.

It won’t be spending all that money at once.

The first stage will cost 1.84 trillion won to start construction on the project.

The company plans to build both small and large flexible displays for both televisions and small tech devices including phones and smartwatches.

The decision comes at a time when Apple announced it would be incorporating OLED panels into some of its devices by 2018, which could yield a hefty return on investment considering its strength and market share in the global smartphone industry.