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LG Display says to invest $1.75 billion to boost OLED display production

Reuters

SEOUL (Reuters) - South Korea's LG Display Co Ltd <034220.KS> said on Wednesday it will invest 1.99 trillion won ($1.75 billion) to build a new small- to medium-sized organic light-emitting diode (OLED) display production line in South Korea. LG Display, in a regulatory filing, said the new production line seeks to address growing demand for flexible OLED displays. Adoption of the next-generation technology in smartphones is expected to grow sharply in the years ahead amid reports that Apple Inc - LG Display's key customer - plans to start using the screens for its iPhones starting as early as 2017. ($1 = 1,135.9900 South Korean won) (Reporting by Se Young Lee)