By the end of next year, LG Display will have almost increased its OLED panel production from 34,000 to between 59,000 and 60,000 sheets per month.
The expansion is coming as part of a US$850 million investment into its panel production factories which will result in part of its production line in Paju being converted from producing LCD into OLED panels.
In addition the company, which is a sub-division of LG Electronics, will also be investing an additional US$263 million into flexible OLED production.
OLED panels are already common on flagship phones, but they have been slower to come to full-sized TVs outside of the highest of the high-end.
The reason for this is that OLED panels are still difficult and expensive to produce at large sizes in large quantities.
But with this investment LG Display appears to be preparing to ramp up production of OLED, as the LCD panel market is appearing to falter.
At the start of this month Panasonic announced that it would be ceasing production of its own (LCD) panels in Japan. The OLED panels for Panasonic's televisions are currently purchased from LG Display.
With the production increases set to be complete by the end of 2017 it's unlikely that we'll see immediate change to the OLED market, but this could be the start of OLED's takeover.
- Check out our full guide to OLED TVs.