Apple investing billions into LG's OLED production

Updated 2017-07-04 13:56:34 CGTN

Samsung may not be the exclusive supplier of iPhones' OLED panels in the future.

Apple is reportedly to invest up to 3 trillion won (2.62 billion U.S. dollars) in LG's OLED panel production, according to South Korean media. It is said that Apple and LG have already agreed on the cooperation, with more details needed to be finalized, said people familiar with this matter.

According to multiple media reports, Apple aims to diversify its supply chains by supporting LG's OLED production.

At present, Samsung is the world's leading supplier of OLED panels and the main supplier of Apple's iPhone.

This is not the first time that LG is considered as the second OLED panel supplier for Apple. In June of this year, LG has ever announced that they will invest about 3.5 billion U.S. dollars to improve the production as well as the quality of OLED panels. This move is viewed as LG's first step towards more Apple orders.

This is seen as a double-win for Apple. LG's participation guarantees the stable supply of OLED panels, while the competition between LG and Samsung will be a good thing for Apple's pricing.

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