Apr 19, 2017 10:24 AM EDT
LG Display Company Ltd. is up for one of the biggest opportunities for the company. The South Korean-based company, one of the largest manufacturers of crystal display panels in the world with a revenue of U.S. $25.55 billion in 2015, is reportedly in talks with American multinational Apple, Inc. The largest information technology company is eyeing LG for the supply of organic light emitting diodes (OLED) next year for its iPhone 8. The deal with Apple is set to be confirmed by the company in June during its board meeting.
This development was revealed after Google indicated its intention to invest up to $1 billion in the OLED manufacturing plants of LG. No agreements were signed as of this time. Google needs to seal the deal to secure the future supply of screens for the Google Pixel smartphones. At present, Google is dependent on Samsung Display and other suppliers for its screens, according to Business Korea. LG Display can push through with the Google deal, although the prospect of supplying for the iPhone 8 is an opportunity that is hard to resist.
A senior LG official confirmed they received an invitation to bid on Apple's medium-sized OLEDs. The company is interested but will make a decision in June depending on investment volume required to meet the requirement and production capacity of the displays. After all, the Korean company is inexperienced when it comes to producing large numbers of small and mid-sized OLEDs. Google has an existing contract with Samsung Display for the supply of its OLEDs.
There were previous reports that Apple is looking at the possibility of using the LG OLED screens in its phones, according to Reuters. These screens do not only offer better picture quality but are also thinner compared to the traditional liquid crystal screen displays. If the deal pushes through, the iPhone 8 will already be fitted with the said screens by 2018.
LG's home appliance products remain its bread and butter, but the OLED screens found in its televisions has made quite an impact on consumers. While the company is not much into small and mid-sized OLEDs, the trend worldwide is pointing towards the use of the screens in the mobile segment. It may be a latecomer in the arena but it has no choice but to join the bandwagon if it wants to remain competitive.
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