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FILE PHOTO: A man leaves the LG Display headquarters in Seoul, October 20, 2011. REUTERS / Jo Yong-Hak / Photo File
SEOUL (Reuters) – LG Display said on Tuesday it will invest 3 trillion won ($ 2.6 billion) in its organic light-emitting diode (OLED) panel production line in South Korea.
The supplier of Apple was already planning a difficult 2019 year, because it invests heavily in OLED panels, while the demand for smartphones and technological gadgets in general is low.
The display screen maker said in a statement that it would continue to expand its lead in the OLED television market.
LG Display is currently moving its main business LCD (LCD) to OLED panels of new generation, LCD screen industry brimming with Chinese competitors.
The South Korean company is expected to release its second quarter results later on Tuesday.
Report by Ju-min Park, additional report by Joyce Lee; edited by G Crosse and Stephen Coates
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