Apple is reportedly planning to invest nearly $334 million in a Taiwan-based factory, owned by Hsinchu Science Park, to produce both LED and micro LED displays for future devices.

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The factory will be built in conjunction with Taiwan's LED lighting manufacturer Epistar and flat panel maker AU Optronics, according to a report in Economic Daily News on Tuesday.

Apple has also sent a development team to Taiwan to work on the project and the new factory is aimed at expanding company's operations in the area.

Meanwhile, famed Apple analyst Ming-Chi Kuo now claims that iPhone maker's plan to adopt mini-LED display technology for future hardware products has been pushed back to 2021 owing to the global health crisis.

In a research note with TF International Securities, Kuo said mini-LED chip, panel, assembly, and terminal assembly are expected to begin mass production in the third quarter of 2020, the fourth quarter, the end of the fourth quarter, and the first quarter of 2021, respectively.