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LG Display will supply large-size OLED panels to Samsung Electronics, creating new business opportunities
LG Display will supply large-size OLED panels to Samsung Electronics, creating new business opportunities
According to news on May 18, two years after Samsung Electronics planned to purchase OLED panels for TVs from LG Display, news finally came that the two companies had reached an agreement.
According to the latest foreign media reports, Samsung Electronics and LG Display have reached an agreement on OLED panels required for TVs, and are expected to begin supplying them to Samsung Electronics as early as the second quarter.
Last year, Samsung Electronics launched two OLED TVs, 55-inch and 65-inch, making them a new entrant in the global OLED TV market. In contrast, Samsung Electronics' market share lags far behind that of LG Electronics and Sony. LG's display-related business is expected to benefit from the order placed by Samsung Electronics.
According to ITBEAR Technology Information, in the field of large-size OLED panels, LG Display has obvious advantages in supplying to the two major OLED TV manufacturers, LG Electronics and Sony. The company's total revenue declined year-over-year for three consecutive quarters, while it posted a net loss for three consecutive quarters.
According to reports, the supply agreement reached between LG Display and Samsung Electronics aims to supply 2 million OLED panels next year and gradually increase to 5 million. The panels initially supplied will be in 77-inch and 83-inch sizes. According to preliminary estimates, next year's supply target of 2 million panels accounts for about 20% of LG Display's annual OLED panel production capacity, worth approximately US$1.5 billion.
The supply agreement reached by Samsung Electronics and LG Display will promote the development of LG Display business. As LG Display supplies OLED panels to Samsung Electronics, Samsung Electronics is expected to further expand its share in the OLED TV market and strengthen its competitiveness with competitors. This provides LG Display with a new business opportunity, hoping that it can alleviate the dilemma of continuous losses and recover its performance.
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