LG plans to invest millions in OLED displays as it prepares to triple its production capacity of screens that use the technology. The company intends to spend 250 billion won ($225.7 million) on a new manufacturing facility that should be complete by the third quarter of this year and will gradually ramp up production levels from 4,000 glass sheets per month to 12,000 by the latter half of next year.

In addition to e-paper and solar cells, the Korean electronic-maker describes OLED displays as one of its "new growth engines." The company recently introduced a 15-inch OLED TV, which should hit shelves in the US this summer for around $2,725 – but that's just the start. LG intends to ship a 30-inch television with the technology as early as mid-2011. Previous reports suggested 40-inch OLED panels should arrive in 2012.

LG's OLED screens may also be coming to future-generation Apple iPod, iPhone or iPad products, as Cupertino has reportedly increased its contract from $500 million to $800 million.