Samsung and LG are the two main players in the display market. They make displays for a wide range of products, including smartphones, tablets, and televisions. For example both companies earn a substantial amount of money from every iPhone sold. However, it is a challenge to supply displays to the entire world. That is why in a major business deal, LG Display has agreed to supply OLED TV panels to Samsung Electronics. Here are the details…

LG Display will supply Samsung with 2 million OLED TV panels in 2023

According to the latest reports, LG Display will start supplying high-end TV panels to Samsung Electronics this quarter. The deal could provide a much-needed boost to LG Display, which has been struggling financially. Under the agreement, LG Display will supply Samsung with 2 million OLED TV panels in 2023. The number of panels is expected to increase to 3 million in 2024 and 5 million in 2025. The first batch of panels will be 77-inch and 83-inch white OLED (WOLED) panels.

The deal is a sign that Samsung is serious about expanding its presence in the high-end OLED TV market. OLED TVs are known for their superior image quality and have been gaining popularity in recent years. However, OLED panels are more expensive than traditional LCD panels, which has limited their adoption. With this deal, Samsung could surpass Sony to become the second-largest supplier of OLED TVs worldwide. This would be a significant shift in the global TV market.

The deal has been welcomed by investors, who have pushed up the share prices of both LG Display and Samsung Electronics. The news is a boost for LG Display, which has been struggling financially. The company has been operating at a loss for four consecutive quarters. The deal will help LG Display to fully utilize its manufacturing capacity and generate much-needed revenue.

Samsung Electronics is also likely to benefit from the deal. The company has its own display-making unit, Samsung Display, but it has struggled to compete with LG Display in the OLED TV market. The deal will give Samsung access to LG Display’s superior OLED panels, which will help it to improve its product offering and compete more effectively with LG Electronics and Sony.

The deal is a win-win for both companies and is likely to have a significant impact on the global TV market. It will be interesting to see how the market dynamics evolve in the coming years.

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