South Korea's LG Display says it will change its investment priority to advanced displays called OLEDs as Chinese manufacturers quickly catch up with their South Korean rivals in the LCD market.
LG Display Co., a supplier to Apple Inc., said Monday that it plans to spend for the next three years 10 trillion won ($8.4 billion) on future displays including OLED, flexible displays and high-end LCD screens. It did not give breakdown figures.
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LG Display and LG Electronics are the lone manufacturers of OLED TVs, which are still more expensive and more difficult to produce than LCD TVs.
OLEDs, or organic light-emitting diodes, require no backlight and can be made into a flexible display. Rival Samsung Electronics uses OLEDs only for small-size devices such as smartphones.