LG will be making the change from LCD to having OLED screens for their phones starting with the release of the V30 this September.
OLED is said to provide a much richer visual experience than LCD, LCD up until now has been the screen on even Apple's most recent phones as well as HTC, except for Google's HTC pixel phone.
LG and Samsung will both produce their screens from a respective sister unit, LG Display and Samsung Display. Samsung Display has a monopoly on the OLED market with around 95% of the mobile screens being produced by them. To confirm other reports, even the upcoming Apple iPhone 8 will have an OLED screen produced by Samsung Display. Although some major delays have been reported on this by Samsung and others, as they are struggling to meet the strict requirements of Apple.
It is believed that LG Display has their work cut out for them trying to expand the production, patent, and logistical capacities needed to compete with the Samsung OLED monopoly. Chinese phone manufacturers will also have access to the new OLED screens from LG as they are keen to have an alternative from Samsung.
Following from the release of the V30, LG has also mentioned that it will be releasing the G7 next year with an OLED screen. In line with that, as well as the other phones already available and upcoming, the end of LCD and rise of OLED seems apparent.