Last month Samsung announced that the Novaled acquisition for €260 million (almost $350 million) is complete. Samsung Cheil Industries now owns 50% of Novaled and the company said they will focus entirely on electronic components and materials.

Now Korea's Yonhap News reports that Cheil plans to spend 1.8 trillion Won (almost $1.7 billion) over the next three years in on OLED and display materials and films. The company hopes to reach about 100 billion Won ($93 million) in OLED revenues in 2014. Cheil recently sold its fashion business unit to Samsung Everland for a trillion Won (almost a billion US dollars).

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