According to a new report out of Korea’s Yonhap News Agency, LG is set to bolster its ability to compete with Samsung when it comes to OLED production.
Reports say that the company is planning to invest US$6.9 billion to build facilities for the production of the next-generation display technology.
As reported by Yonhap, “the investment is aimed to cope with the expanding market for OLED TVs, as well as rising demand from the mobile and automobile sectors.”
With OLED quickly becoming the go-to for premium smartphones, demand for the new display technology has quickly outstripped the component industry’s ability to supply it.
In April, it was reported that Apple had ordered 70 million units of OLED panels from Samsung Display – who produce 95% of the world’s OLED displays for smartphones.
This, in turn, has forced Google to invest in LG directly to ensure OLED displays for its next-generation of Pixel smartphones.
Meanwhile, smaller Android players like ASUS have had their ambitions to move into the high-end of the market stifled by an inadequacy in supply of the display technology.
