The company LG Display will start supplying high-end OLED TV panels to Samsung Electronic starting next year, thus increasing the production of good quality televisions.
LG Display, its OLED TV panels at the service of Samsung
Initial supplies to Samsung are likely to be LG-branded OLED TV panels, Reuters said bianchi and 77 inch and 83 inch. This highlights the fact that Samsung is looking to expand into the high-end OLED TV market, while competition is apparently pouring into the Chinese market and therefore on to cheaper TVs.
With the agreement entered into with LG Display, Samsung could exceed the production of OLED TV’s Sony globally. However, the collaboration between the two brands seems to have not yet been made official.
Samsung Electronics, the world’s largest TV maker, has been slower than its local rival LG Electronics in grabbing the market for OLED TVs, arguing the technology is better suited to small devices such as smartphones and tablets, partly due to the high cost of panels.
On the other hand, for LG Display, shipments of 2 million OLED panels will represent a major boost, worth at least $1.5 billion and equal to about 20%-30% of its total production capacity of large-size OLED panels.
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In OLED TVs, Samsung currently has a market share of 6,1%, behind LG Electronics with the 54,6% and Sony with the 26,1%, according to market research firm Omdia. Additionally, the market is expected to grow nearly 6% to $11.7 billion this year and to $12.9 billion by 2027.
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