LG Display to supply OLED TV panels to Samsung Electronics

LG Display will be going to initiate supplying high-end TV panels to Samsung Electronics. The company has achieved very soon by this quarter as revealed by multiple sources.

Apparently, LG Display’s motive is to supply 2 million units by next year. As revealed by the close sources, increasing the shipments to 3 to 5 million units in succeeding years. Also, the commence in supplies will assume to be with 77-inch and 83-inch white OLED TV panels.

Noticeably, in regards to the Korean giant, the deal indicates how it sees the enhancement of the high-end organic light-emitting diode TVs. Since the other rest rival players expand in the lower end with Chinese vendors. Notably, OLED panels are approximately five times more costlier than liquid-crystal display (LCD) panels.

With this pace, Samsung could overtake Sony Corp as the second-largest supplier of OLED TVs worldwide. At the same time, it is forecasted by Analysts that LG Display was in the conversation in order to supply OLED TV panels to a new customer. However, the name is confidential by all of the sources, since the deal is not public yet.

Samsung Electronics rank to be the world’s largest TV maker. Now, subsequently slower down than its native place rival LG Electronics with respect to OLED TVs. On the other side, concerning the LG Display, the shipment of 2 million OLED panels will consider one of the biggest boosts. It is worth around $1.5 billion and costs around 20%-30% of its total manufacturing capacity

And the company has been operating its OLED unit less than its overall capacity because of its concise customer base, especially after the global pandemic scenario.

“LG’s production rate will improve and is likely to reach full capacity next year, helping it lay the groundwork to return to profit,” said Jeff Kim, an analyst at KB Securities.

Samsung Electronics (1)
Samsung Electronics (1)

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