Samsung Electronics Co Ltd will now get their OLED TV displays from LG Display Co Ltd. This is to benefit the quarterly loss LG Display as global demand for monitors and computers have decreased during the first quarter of 2023.
Samsung will now purchase OLED TV panels from LG. This allows LG to profit after the loss they had in the first quarter of 2023 where the global demand for monitors and computers have decreased.
Based on initial supplies, Samsung is looking to purchase 77-inch and 83-inch white OLED TV panels from LG Display. Their goal is to supply 2 million units next year and increase it to 3 and 5 million in the following years.
Because of this deal, Samsung has a chance to dethrone Sony – the second largest supplier of OLED TVs worldwide.
Both Apple and Samsung have purchased mobile phones with OLED displays developed by Samsung Electronics under Samsung Display.
The deal between LG Display and Samsung Electronics has not been made public as both companies have not commented on this.
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