Toshiba's apparently investing $1.19 billion building a Japanese factory devoted entirely to making iPhone LCDs. Work on the factory will commence later next year, so if Toshiba gets the contract for iPhone 5 screens, they'll have to be made elsewhere.

The Nikkei reported the news today, and while Toshiba's spokesperson has denied they're building a new factory just for Apple's screens, it's said that Apple will actually contribute towards the building of the factory.

Presumably they'll be making LCD panels for other products in this factory, but such investment will help them double their monthly production of the screens, plus hopefully secure more contracts from Apple. [Reuters and Bloomberg]