Its second quarter earnings have dropped by 91%. If this trend continues its plans could be significantly affected.

So as to meet the growing demands for flexible OLED displays, South Korean electronic giant LG Display has announced that it will invest $1.75 billion in OLED display technology.

OLED displays are steadily replacing LCDs in smartphones and in other gadgets with display.

LG is the world’s largest manufacturer of LCDs. It has been very active in manufacturing additional facilities OLED technology for smartphones and televisions though it lags far behind its competitor, Samsung Display, which is the world’s largest manufacturer of OLEDs for smartphones.

So as to become more competitive, LG Display plans on creating a new production line for small and medium flexible OLED screen in South Korea. The E6, will begin to mass produce flexible OLED screens from the second half of 2018 and is set to produce 15,000 OLED sheets per month.

Although this development sounds good, what is however intriguing is that according to the company’s results, its second quarter profit slumped by a whopping 91%, in comparison to its previous year figure in the same quarter.