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

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.

(Reporting by Se Young Lee)