In the past couple of years, we've constantly seen launches of OLED TVs with amazing picture quality, but high prices kept their sales way below the slightly worse but far cheaper LCD TV sets.
Now, LG is betting big on OLED: According to a Thursday report by Reuters, the company plans to invest more than 10 trillion won ($8.71 billion) to build an OLED plant in Paju, South Korea.
The plant will be used to produce OLED panels of all types and sizes, including small, flexible ones for smartwatches and car displays, as well as large screens for TVs.
According to Reuters, production is scheduled for the first half of 2018.
The news immediately spurred rumors of LG actually preparing for Apple's imminent adoption of OLED technology, but that hasn't been confirmed by either company.
In 2015, LG has been betting heavily on OLED, releasing several high-end TV models as well as a few interesting concepts, including a two-sided TV and a TV so thin you can stick it to a wall.