Toshiba Corporation (TYO:6502) is spending about 100 billion yen ($1.19 billion) to build a factory for making LCD panels. This LCD panel factory will pump out screens for the iPhone,
which is why Apple Inc. (NASDAQ:AAPL) will be making an investment too. Update: It turns out that Toshiba is denying that Apple is investing in the factory.
Toshiba subsidiary Toshiba Mobile Display Co. will build the facility in Ishikawa. The factory will produce low-temperature polysilicon LCD panels that support. high-resolution images.
The work on this plant will start next year with production due in the second half of 2011. The company’s existing factory has a production capacity of 8.55 million units per month. This is expected to more than double with this new factory.