LG Display to Supply 77 3qm6r Inch and 83-Inch OLED TV s to Samsung; Aims to Ship 2 Million Units in 2024

With this deal, Samsung could overtake Sony as the second largest supplier of OLED TVs globally. 74667

By Reuters | Updated: 16 May 2023 10:46 IST

LG Display to Supply 77-Inch and 83-Inch OLED TV s to Samsung; Aims to Ship 2 Million Units in 2024

Photo Credit: Samsung 6t3r24

With this deal, Samsung could overtake Sony as the second largest supplier of OLED TVs globally

Highlights

OLED s cost nearly five times more than LCD s
LG Display was in talks to supply OLED TV s to a new client
LG Display supplies OLED TV s to LG Electronics and Sony

ment

South Korea's Samsung Electronic 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 (WOLED) TV s.

For Samsung, the deal highlights how it is looking to expand in high-end organic light emitting diode (OLED) TVs as competition heats up in the lower end with Chinese vendors. OLED s cost nearly five times more than liquid-crystal display (LCD) s.

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With this deal, Samsung could overtake Sony as the second largest supplier of OLED TVs globally.

Analysts have speculated that LG Display was in talks to supply OLED TV s to a new client. Reuters is first to report details of the deal with Samsung Electronics.

All the sources declined to be named because the deal is not public.

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Both LG Display and Samsung Electronics declined to comment.

Samsung Electronics, the world's biggest TV manufacturer, has been slower than its hometown rival LG Electronics Inc 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 s.

For LG Display, shipments of 2 million OLED s will be a major boost, worth at least $1.5 billion (roughly Rs. 12,300 crore) and amounting to around 20 percent to 30 percent of its total manufacturing capacity for large-size OLED s, taking it to full capacity, according to analysts.

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.

LG Display supplies OLED TV s to LG Electronics and Sony. It also supplies smartphone displays to Apple Inc.

Samsung Electronics has its own display-making unit Samsung Display which focuses on OLED screens for mobile phones made by Samsung.

In OLED TVs Samsung currently has a 6.1 percent market share, behind LG Electronics with 54.6 percent and Sony 26.1 percent, according to market research firm Omdia.

The market is expected to grow nearly 6 percent to $11.7 billion (roughly Rs. 96,100 crore) this year and to $12.9 billion (roughly Rs. 1,06,000 crore) by 2027, according to Omdia.

Samsung's Galaxy S23 series of smartphones was launched earlier this week and the South Korean firm's high-end handsets have seen a few upgrades across all three models. What about the increase in pricing? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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