The Korea Economic Daily reports that Apple has signed a deal with LG Display to secure flexible OLED capacity. Apple will pay $2.7 billion to LG Display in order to secure 45,000 monthly substrates in LGD's upcoming 6-Gen production facility, starting in 2019.
The newspaper says that the two firms agreed to keep this deal confidential as Apple also partnered with Samsung Display for the supply of OLED capacity. Apple was always assumed to want a second OLED supplier, and earlier this week LGD confirmed it is seeking financial help from strategic partners as it embarks on an aggressive OLED expansion plan.
LGD is set to establish new flexible OLED production lines in addition to OLED TV lines, which will require billions of dollars in investment. According to reports Google will also invest in LGD to secure panels for its own future smartphones. Apple, meanwhile, is also reportedly talking to even more OLED producers.