Samsung is reportedly buying OLED TV panels from LG2023-05-16 18:42 by Daniela
Tags: Samsung, OLED TV, LG
Samsung has reportedly signed a deal for LG's OLED TV panels. Reuters reports that LG Display will supply high-end 77- and 83-inch white OLED panels to Samsung in a deal that could help it turn a profit amid fierce competition in LCD panels from Chinese rivals.
This is the first time Samsung has purchased OLED panels from its South Korean rival after years of rumors around similar deals. It's also a huge admission of defeat after Samsung stopped making OLED TVs in 2015, citing the high costs of the panels in a miscalculation that the market wouldn't be ready for such high-end TVs. Samsung pushed ahead with its cheaper but inferior QLED TVs - a variation of LED LCD - but OLED models have dominated the premium market.
It's an unexpected partnership that may actually make a lot of sense for both sides. Samsung could use the panels to help it make up ground in the OLED TV market. The company has taken the approach that OLED displays are a better fit for smartphones and tablets than TVs. One reason for that perspective is that OLED panels are expensive - they tend to cost nearly five times more than LCD panels. On the TV front, Samsung has focused on making QLED models, which are cheaper than OLEDs.
Samsung has 6.1 percent of the OLED TV market, according to market research firm Omdia. LG Display's sibling LG Electronics is said to be out in front with a 54.6 percent market share while Sony has 26.1 percent. An LG Display deal could help Samsung overtake Sony in that realm or at least to better compete with Chinese manufacturers that are selling lower-cost LCD televisions.
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