(iTers News) - Foxconn and its subsidiary Sharp are accelerating their paces to establish a small- and medium-sized joint OLED production facility in China, a move to jump into fast-growing OLED market.

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Foxconn said on Monday that the Taiwanese OEM contract manufacturer, or EMS (Electronic Manufacturing Service) company will join hands with Sharp to invest US$1.92 billion to build a joint- OLED fabrication facility to produce OLED display panels for smartphone.

OLED market is rapidly growing as more smartphone makers like Apple are choosing OLED display to build their next-generation flagship smart phones. For example, rumors have it that Apple Inc. has been in talks with Sharp to source out OLED panels from the Japanese panel maker in a bid to diversify its supply sources for iPhone series.

Many display makers like LG display, JDI, Samsung Electronics, and Foxconn are fiercely competing to secure orders for OLED panels from Apple.

The joint OLED facility by Foxconn and Sharp will come on line, rolling out OLED panels sometime in 2018.

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