According to company president and CEO, Dai Jeng-wu, Sharp is ready for volume production of OLED panels and shipments will be set in accordance with clients' product launch schedules.

Sharp would be the first Japan-based panel maker to have the capability to produce OLED displays for smartphones.

Sharp, now part of Foxconn, is trying to enter Apple's iPhone X supply chain, in which Samsung Display is currently the sole supplier of OLED panels. Foxcoon is currently the sole producer for the iPhone X.

The Japan Times reports that at a cost of $515 million, Sharp could have production operating at two plants in the spring of 2018. While one would work on small and medium screens for phones and laptops, the other would focus on TVs, where LG dominates the segment, producing OLED panels for its own TVs as well as other brands.