South Korea's LG Display Co Ltd will start supplying high-end TV panels to Samsung Electronic Co Ltd from as early as this quarter, three sources said, in a deal that would help the loss-making flat-screen maker turn profitable.
LG Display aims to supply 2 million units next year and boost shipments to 3 million and 5 million units in subsequent years, two sources with direct knowledge of the matter said. Initial supplies to Samsung would likely be 77-inch and 83-inch white OLED TV panels.
Analysts have speculated that LG Display was in talks to supply OLED TV panels to a new client. Reuters is first to report details of the deal with Samsung Electronics.Both LG Display and Samsung Electronics declined to comment. in embracing OLED TVs, arguing the technology is more suited to small devices such as smartphones and tablets, partly due to the high cost of panels.
The company has been running its OLED factory below full capacity due to a limited customer base and as a pandemic-driven demand surge for new TVs has tapered off amid soaring inflation and slowing economy.
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