Samsung is reportedly purchasing 5 million panels from LG Display

For quite some time now, we have heard about the potential deal between Samsung and LG Display for the OLED TV panels. If we look at Samsung’s history, then the company is quite experienced in manufacturing OLED panels for smartphones. For this reason, the company has to look for alternate options to cater to the requirements of its OLED TV lineup.

Last year, we officially learned about the contract between Samsung and LG Display. Reportedly, the company will acquire WRGB OLED panels from LG Display for its TV series. Some recent reports suggest that the two companies have renewed the deal. According to a new report, Samsung Electronics is going to acquire almost 5 million OLED panels from LG Display.

The partnership between LG Display and Samsung is growing

Over the next five years, LG Display will be providing 5 million white-OLED panels to Samsung Electronics. In 2024, LG Display will ship 800,000 units to Samsung. Compared to last year’s expected supply of 200,000 units, this is up to eight times higher. It just goes to demonstrate that things are going well between the two businesses.

Currently, the OELD TV lineup of Samsung consists of 55-inch, 64-inch, 77-inch, and 83-inch OLED TV models. Perhaps the company might introduce 42-inch and 48-inch sizes in the future, given the fact that LG Display will be supplying the panels for these models. There is a possibility that the company might order more LCD panels from LG this year. If this is true, we can assume that Samsung might order 6 million units in 2024, compared to the 3 million units acquired last year.

Due to its unique position, LG Display can benefit greatly from Samsung’s growing need for OLED and LCD panels. Not only is this Korean behemoth the only business in the world mass-producing OLED TV panels bigger than 80 inches, but it also commands 80% of the global market for OLED TV panels.