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Samsung wants to invest $3.6 billion into OLED panel production

Samsung wants to offset its lost smartphone sales over the coming years with a new $3.6 billion investment into OLED panel production

By Anthony Garreffa from Feb 14, 2015 @ 1:19 CST

After a not-so-great year with the Galaxy S5 smartphone and its sales, Samsung is wanting to offset those loses by investing a huge $3.6 billion into OLED panel production, where it hopes other manufacturers will buy more of its components, and new OLED screens.

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A spokesperson for Samsung Display spoke with Reuters, where they said that a new production line will be manufacturing small and medium-sized OLED panels that would make their way into smartphones, tablets and other small devices - VR headsets, for example. The large investment will take place over the next three years or so.

But it's not just Samsung that is investing into the future of OLED panel production, with its South Korean rival LG spending around $915 million on its TV-sized OLED panel production this year, after it cited increased demand. LG has already spent $726 million on OLED production, too.

NEWS SOURCES:Electronista.com

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