LG is dumping billions of dollars into its next OLED plant, a facility that will be constructed in Paju, South Korea. This $8.71 billion plant is going to produce all sorts of OLED panels that can be used for TVs, phones, smartwatches, and many other products. LG intends to begin production at the plant in the first half of 2018.

OLED panels have become more popular in the past few years because they offer superior picture quality over LCD, but the panels have been too expensive for many consumers.