Apple invests $2.70 billion in LG for OLED display

Samsung may soon not be the only supplier of OLED displays for Apple as the Cupertino-based tech company has reportedly invested $2.70 billion in LG for the production of OLED panels for its iPhones.

According to a report in The Investor on Sunday, Apple will reportedly make the investment as advance payment for the planned panel supplies from the Korean display maker.

“With the latest funding, LG Display’s OLED production will reach 45,000 units of the sixth-generation OLED panel monthly. Of the total, Apple orders are likely to make up at least 30,000 units,” the report quoted unnamed sources as saying.There is no official word about the deal yet from either Apple or LG.

The iPhone maker still relies on Samsung for the OLED panels for the upcoming iPhone 8.

According to the report, LG would supply 45,000 OLED panels per month to Apple for iPhones in 2019.

It was presumed that Samsung would be an exclusive supplier of OLED displays for Apple’s iPhones but this deal has served as a blow to the Galaxy S8 maker.