Chinese display panel maker BOE Technology Group Co Ltd announced on Tuesday night that it plans to invest 63 billion yuan ($8.8 billion) to set up a new active-matrix organic light-emitting diodes, or AMOLED, production line in Chengdu, Sichuan province.

The project's products will mainly be high-end touch screens such as those on laptops and tablets, BOE said in a filing to the Shenzhen stock exchange.

A total of 32,000 glass substrate panels (at 2290 mm x 2620 mm) are expected to be produced every month. The panels will be used in middle-sized OLED products, according to BOE.

The company said consumers have shown an increasing demand for laptops and tablets that are thinner and more portable, bolstering the development of flexible and foldable display panel industry.

According to market research company Omdia, the global shipments of laptops equipped with OLED panels amounted to about 6 million units in 2022, up 19 percent year-on-year.

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