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Biz News Korea(Eng)
LG Display fails to receive orders for iPhone 8 screens from Apple
- Collected
- 2017.01.26
- Distributed
- 2017.01.31
- Source
- Go Direct
It had lost its primary customer to its local rival Samsung Display because it did not respond fast to the migration from liquid crystal display to organic light-emitting diode (OLED). LG Display is OLED powerhouse in large panels for TVs while Samsung Display is stronger in small OLED panels because it supplies to Samsung Electronics whose premium phones are all OLED screens.
A senior executive of LG Display confirmed on Wednesday that the company failed to win orders from iPhone 8. “We would be without a major client from the second half,” he said.
The business relationship between LG Display and Apple goes back to 2008. Its LCD display had been fitted to iPhones since 2010. Apple began to diversify its supply chain from 2011 and invested $1 billion in LCD lines of Sharp of Japan.
Apple decided to follow its archrival Samsung Electronics by choosing OLED for its phone screen. Samsung Display received orders of 100 million panels for iPhones last year. LG still is hopeful that it could win orders for iPhone8 version in LCD screen.
As of 11:22 a.m. on Thursday, shares of LG Display fell 0.49 percent to 30,250 won in Seoul trading.
By Lee Dong-in
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