Citing a Korean-based publication Newspim, a report by Digitimes is claiming that LG Display has signed a new contract with Apple to supply both LCD and OLED panels for the iPhone maker’s next-generation smartphones in the second half of 2018.
The report notes that the South Korean company will supply 3-4 million OLED panels and over 20 million LCD smartphone panels to Apple in 2018. Furthermore, LG Display will produce the OLED panels needed for the iPhone from its E6 6G fab in Paju.
The deal will also help LG Display improve its financial constraints, said the report, noting that the company posted a net loss of KRW98.3 billion (US$87.04 million) in the first quarter of 2018 with a prospect of the losses widening to KRW196.8 billion for the second quarter.
LG is expected to secure the majority of 6.5-inch OLED panel orders from Apple in 2019 a well, thanks to the improved yield rate at its E6 plant. The company is now working to ramp up its OLED panel shipments to reach 10 million units by the end of this year.