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LG Display to invest almost $1 billion for flexible OLED displays

July 23, 2015
A model gently lifts the ultra-slim, detachable wallpaper OLED panel made by LG Display Co. at a media event held in Seoul on May 19, 2015. (Photo courtesy of LG Display Co.)

A model gently lifts the ultra-slim, detachable wallpaper OLED panel made by LG Display Co. at a media event held in Seoul on May 19, 2015. (Photo courtesy of LG Display Co.)

LG Display Co. announced a bold plan on Thursday to invest 1.05 trillion won (US$907.2 million) into constructing a new factory capable of producing mass quantities of flexible organic light-emitting diode (OLED) displays.

The figure sounds significant and for the South Korean tech giant, it’s no drop in the bucket as the sum represents 8.9 percent of the company’s equity capital.

LG debuted an ultra-thin detachable wallpaper OLED panel back in May that turned heads.

The latest move signifies that the company is going to rely on panels and displays as a cornerstone for growth.

Han Sang-beom, LG’s Display chief, echoed those sentiments and specified that small- and medium-sized displays would demand most of their focus in the coming years according to Yonhap News Agency.