In August 2017, Japan Display announced a last-resort strategic focus on OLED displays as the Japanese display maker failed to shift to OLED displays in time. JDI found it extremely difficult to secure the needed funds, but it finally raised $430 million from Oasis Management group and one of its customers (likely to be Apple).
It is now reported that Ichigo Asset Management will invest up to $830 million in Japan Display.
In October 2019 Japan Display announced it has started to produce OLED displays - likely indeed this is low volume production for Apple's wearables. Apple's Watch Series 5 (its latest generation) features a 324x394 1000-nits always-on LTPO AMOLED display (368x448 on the 44m model). Apple is currently buying these OLED displays exclusively from LGD.
With the new larger investment, it is likely that Japan Display will finally move forward with its plans to establish a smartphone OLED mass production fab.