Apple is working to switch to OLED displays for iPhones beginning in 2018, a major Japanese publication reported on Wednesday.

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LG Display is planning to spend up to $4.2 billion on a new factory in Paju, South Korea in order to meet demand for OLED screens -- some of which could potentially make their way into future Apple products.

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Apple's refreshed, entry-evel 21.5-inch iMac desktop has been given the teardown treatment, revealing that its standard-resolution display was manufactured by LG Display, while the Wi-Fi antenna design has been slightly tweaked [corrected].

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Korea's LG Display on Monday announced plans to spend 10 trillion won, or about $8.5 billion U.S., during the next three years on developing OLED technology, some of which could find its way into Apple hardware.

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LG Display on Thursday announced plans to devote almost $1 billion towards building a fourth OLED factory, one that could potentially be instrumental in keeping up with demand for products like the Apple Watch.

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South Korean display manufacturers are trying to persuade Apple to use flexible OLED screens for future iPhones, although the first such models might not ship until 2018, a report claimed on Wednesday.

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