Apple ordered 160 million OLED panels for iPhone 8 from Samsung Display

According to The Korea Herald on Monday, Apple has signed an agreement with Samsung Display.

division of Samsung Electronics,to produce an additional 60 million OLED panels for iPhone 8 devices. The transaction value is estimated at five trillion South Korean won, or about $4.3 billion.

This deal was in addition to the agreement between Apple and Samsung last year to produce 100 million OLED displays for the iPhone 8.

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Apple sells around 200million iPhone devices per year. Therefore, the total number for the manufacture of 160 million OLED panels from Samsung will be only 80% of the annual sales. Samsung Display is a global manufacturer of OLED panels, responsible for supplying the market with more than 95% of the world's volume of OLED panels for smartphones and tablets.

Brand New iPhone 8 with OLED Screendue to appear in September this year, along with iPhone 7s and iPhone 7s Plus models using LCD displays, to update the iPhone 7 family of devices. Thus, perhaps Apple will be able to equip all three device models this year with OLED screens, having support for as an increased supply of scarce displays.

Previous rumors claimed that othersOLED panel makers may enter Apple's supply chain in 2018, including Sharp, owned by Foxconn, LG Display, and Japan Display.