Samsung Display is investing almost 11 billion U.S. dollars to develop quantum dot OLED displays by 2025.
It will invest 8.four billion dollars in facilities and the rest in research and development of quantum dot display technologies.
Quantum dots are tiny semiconductor crystals that can convert blue light into red and green when excited by an energy source.
Quantum dot-OLED displays have a higher energy efficiency and wider color range than LCD, or liquid-crystal displays.
This investment is seen as a move by Samsung to accelerate the shift to high-end display screens and gain a competitive edge against its rivals from China and address falling profits amid the oversupply of LCD panels in the global market.
It had mainly produced displays for smartphones but not TVs.
Samsung plans to retool some of its LCD production lines for quantum dot production and begin operation from 2021 with a monthly capacity of 30-thousand sheets.
It added that the investment is expected to create around 80-thousand new jobs over the next five years.
South Korea's trade ministry also announced Thursday, that the government will allocate a 93 million dollar new budget for the display sector in 2020.
This is a three-fold increase from this year's as part of efforts to support R&D and cooperate with companies and universities to nurture talent in the display industry.
LG display had also announced in July an investment of 2.six billion dollars in OLED facilities to expand its production for its premium OLED panels.
Kim Hyesung, Arirang News.