Sharp plans to begin production of organic light-emitting diode panels for foldable smartphones, as the company aims to catch up with competitors.

The company unveiled a prototype smartphone with a foldable 6.18-inch OLED screen (1440x3040 ) during a media event Wednesday in Tokyo. The screen can be folded 300,000 times without sustaining damage, according to Sharp. The demonstration panel folds inwardly, but Sharp apparently says it can also bend outwardly. There is no information on when the product will come to market.

Sharp also previewed a 12.3-inch OLED panel for on-board vehicle displays. The panels can be formed into curved shapes and will be launched as soon as fiscal 2021. Sharp plans to sell them to automakers that already procure its LCD panels.

The new OLED panels will be produced at the company's display factory in Sakai. The Osaka Prefecture plant already manufactures OLED panels for the company's own Aquos Zero smartphones.