Samsung Strikes Deal To Use LG’s OLED TV Panels
After years of insisting that OLED panels were ill-suited to large screen televisions, Samsung has finally acquiesced and struck a deal that will see LG Display supply high-end OLED TV panels for Samsung TVs.
According to “two sources with direct knowledge of the matter”, via Reuters, the initial supplies will be 77-inch and 83-inch white OLED TV panels.
LG Display will begin supplying the panels from this quarter, with aims to supply two million units during the next financial year.
This deal is great for both LG Display, who recently posted a A$1.2 billion loss for the March quarter, their fourth straight quarterly loss, and Samsung, who will likely leapfrog Sony to become the world’s second-largest OLED TV manufacturer.
This is a significant order, and will amount to around 20 – 30 per cent of LG Display’s total manufacturing capacity for large-size OLED panels.
After a year of operating well under capacity, due to slowing orders, this will be the boost LG Display needs to become profitable.
Early signs are positive, with LG Display jumping 2.4 per cent after the Reuters story, and Samsung jumping 1.7 per cent.