Apple is likely to use LG as an alternative supplier for the organic light-emitting diode (OLED) panels used in its iPhone devices, according to a Bloomberg report.
The tech giant will be able to source OLED displays faster, having LG as a secondary supplier. Additionally, it will also help them cut down the cost.
The expense of OLED component is a key reason iPhone X price starts at USD 1,000. The report claimed that the sales of iPhone X haven’t met initial expectations.
Currently, Samsung has a monopoly in the OLED market. Apple paid higher premiums as it was solely relying on Samsung to supply its OLED displays.
Two to four million OLED displays will be supplied by LG initially. Apple bought nearly 100 million OLED displays from Samsung for iPhone X production.
Apple is trying to fight off a slump in smartphone sales. LG is in need of a fresh source of revenue as it is battling a slide in price of liquid crystal displays.
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