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Samsung is ready to invest $3.1 billion for the production of OLED screens for tablets and laptops. The tech giant held a ceremony to announce the investment, which was also attended by the South Korean prime minister.

In making this investment, Samsung intends for its factories to be prepared for the production of more advanced screens. The demand for OLED panels is expected to increase dramatically in the coming years. The technology has been available on high-end TVs and desktop screens for some time. Smartphone displays joined the fray in recent years, too.

The support from political quarters is not too surprising, given that Chinese brands are chasing Samsung and other Korean companies. Its government is setting aside 420 billion won (roughly $320 million) for the development of OLEDs. It also provides tax breaks for tech companies operating in this sector, reports Korea’s Pulse News.

Samsung is counting on the growing demand for OLED to also to be reflected in the tablet and laptop segments, where the technology is not yet as popular.

Also read: Samsung adds four displays to its portfolio ahead of CES 2023