Word is South Korea’s LG Display’s to invest $8.7 billion (AU$12.09) in a large OLED manufacturing plant likely to open in the first half of 2018. The plant’s going to be the company’s biggest OLED panel facility and will produce ultra-clear displays for use in smartphones, TVs, smartwatches and cars.

LG Display insiders said the company’s going to make an initial investment in the massive project that might significantly boost market demand for the technology. OLEDs or organic light emitting diodes are the latest technology used for making display screens in smartphones and are regarded as more advanced than the LCD panels used by some smartphone makers such as Apple.

Reports from Japan’s Nikkei Asian Review suggest LG Display is keen on supplying OLEDs to Apple, which is apparently having a change of heart about OLEDs. Apple’s likely to introduce OLED displays in its iPhones to be manufactured in 2018. Also see this.

Though assumptions that LG will supply OLEDs to Apple remain strong, a spokeswoman for LG Display declined to comment on this as of now. Nevertheless, LG Electronics’ initiative to make a massive investment in the OLED project of its affiliate, LG Display, seems to be a huge leap towards making display screens more innovative and intriguing.

OLEDs or AMOLED screen technology use thin-film transistor backplanes for turning on and off every pixel, thus augmenting clarity in pixel resolution and large displays, reports Reuters.

As opposed to LCD technology, OLED works without a backlight, thereby bringing enhanced deep black levels onto screens much thinner and lighter than any other form of display technology. Read to know more about OLEDs.

The five biggest advantages associated with OLED’s include low cost, flexibility and light weight, wider viewing angles and better power efficiency. Thus, with brightness and enhanced lucidity in every pixel, OLEDs are the future of the smartphone display business.

In an effort to popularize OLEDs, LG Electronics recently reduced its TV prices in the United States.

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