Oct 31, 2016 12:58 PM EDT By Eileen De Santos, UniversityHerald Reporter

The iPhone 8 Plus will reportedly feature an OLED display when it comes out in a year or two, according to a Sharp executive. The potential Japanese supplier also announced that it intends to set up a manufacturing facility in the US.

Sharp To Supply OLED Display?

Sharp CEO Tai Jeng Wu announced recently that an upcoming iPhone 8 Plus will feature an OLED display instead of the traditional Low Temperature Poly Silicon or LTPS, according to the Asian Nikkei Review. He admitted that such move may or may not work for the Cupertino Company. But he added that Apple runs the greater risk of stagnation if it does not find a way to reinvent itself.

Who Is Tai Jeng Wu?

Taiwan-based Foxconn, also known as Hon Hai Precison Industry,bought the Japanese Electronics firm Sharp and appointed Tai as head of the newly acquired company. Foxconn is also one of Apple's principal suppliers apart from Samsung and others.

Why Is Apple Switching To OLED?

Most smartphone manufacturers use OLED display and almost all of them run on the Android OS. Apple only began using the OLED on 2015 for its Smartwatch. It is said that the OLED has a distinct advantage against the LTPS when it comes to color contrast. Apple was reportedly hesitant of using OLED display due to the high demand among its smartphone competitors, according to 9To5Mac. There are also rumors that the upcoming iPhone 8 will no longer include a physical touch button. On the other hand, the TouchID will be placed behind the display.

Possible OLED Manufacturing Plant In The US?

Sharp does not have an extensive OLED manufacturing plant right now but it's currently building one in Japan. Tai said that his company could set up another OLED facility in the US depending on negotiations with Apple. Such an agreement may help Sharp secure more business with Apple. 

See Now: Covert Team Inside Newsweek Revealed as Key Players in False Human Trafficking Lawsuit