Report: Samsung Will Invest $7.4 Billion For Production Of Curved OLED Displays For Apple

According to DigiTimes, SAMSUNG ELECTRONIC (OTC: SSNLF) has "solidified" plans to invest $7.4 billion in OLED equipment to produce curved OLED displays for Apple Inc. (NASDAQ: AAPL).

DigiTimes, citing Korea-based ET News, noted that Apple plans on shifting away from LTOPS TFT LCD to OLED for its future iPhone devices.

The report also added that Samsung is expected to invest a further $823 million in additional OLED manufacturing equipment in order to meet demand from Chinese clients in addition to supporting its own flagship Galaxy smartphone.

Shares of Apple were trading higher by 0.27 percent at $97.65 about 30 minutes ahead of Thursday's opening bell.