The cost is 3 times that of mobile phones LG will start producing OLED panels for iPad Pro in February next year

[Tinydeal News]Foreign media reported that Apple’s supply chain partner LG Display will produce OLED panels for iPad Pro starting in February, earlier than expected to be launched in early 2024, and Apple’s cost is three times that of the iPhone.

OLED version iPad

Rumors about the iPad series going to launch an OLED version continue, and the OLED version of the iPad Pro is expected to arrive sometime in 2024. In another report on the topic, production of critical components appears to begin within a few months.

Late Sunday, the Korea Herald said LG Display’s financial situation is expected to improve significantly as it will produce OLED panels for iPad Pro. The company’s factory in Pazhou will start production in February 2024, sources said.

The report confirms the first statement about production revealed on November 8, and also mentions the production date in February. The two reports also mention that Apple is targeting 10 million iPad OLED panels in 2024, LG Display is expected to receive 60% of orders, while Samsung will receive the remaining orders.

According to reports, LG is expected to receive orders for the 12.9-inch iPad Pro and 11-inch iPad Pro display, while Samsung only makes the 11-inch model. At present, pricing negotiations between LG Samsung, and Apple have ended. Since the expected cost per panel will be three times that of iPhone-like products, LG will gain more from this project.

Industry observers estimate that LG Display will earn about 21.03 trillion won (US$15.9 billion) from annual sales in 2023, with an operating loss of 2.56 trillion won. By 2024, thanks to orders for the OLED version of the iPad, operating profit is expected to reach 109.4 billion won and will grow to 659.6 billion won by 2025.