It was rumored for quite some time that Samsung might start sourcing panels for its OLED TVs from LG Display. Samsung Display's focus has largely remained on making OLED panels for mobile devices, thus requiring Samsung Electronics to look elsewhere for larger panels required for its new lineup of OLED TVs.
The Samsung and LG Display deal was officially announced last year. Samsung would be sourcing LG Display's WRGB OLED panels for its televisions. It was also reported recently that the two companies have now extended the deal. A new report claims that Samsung Electronics will be buying as many as 5 million OLED panels from LG Display.
Samsung and LG Display's relationship is blossoming
LG Display is reportedly going to supply Samsung Electronics with 5 million white-OLED panels over the next five years. The supplier is expected to provide Samsung with up to 800,000 units in 2024. This is up to 8x higher than the estimated supply of 200,000 units last year. It goes to show that the relationship between the two companies is heading in the right direction.
Samsung currently has 55-inch, 64-inch, 77-inch, and 83-inch OLED TV models in its lineup. It may launch 42-inch and 48-inch sizes as well with LG Display providing the panels for those models as well. Samsung may also increase its purchases of LCD panels from LG, going from 3 million units last year to almost 6 million units in 2024.
LG Display is in a unique position to capitalize on Samsung's increasing demand for OLED and LCD panels. The Korean giant currently accounts for 80% of the global OLED TV panel market, and also happens to be the only company mass producing OLED TV panels larger than 80-inches.
