LG signs 5-year contract with Apple for LCD displays

LG has just signed a five-year contract with Apple which states that they will be providing LCDs for the company. Apple apparently wanted LG’s LCD and next-generation OLED displays for its line of notebooks and Cinema Displays, along with future iPhone and iPod models. LG will receive US$500 million for the displays from Apple under this new contract.

OLED displays are next-generation displays which use organic material to emit light. These displays generally outperform current LCD displays in terms of refresh rate, color, and energy efficiency. LG already provides over 70% of Apple’s notebook and Cinema Display LCDs, but this will increase greatly under the new contract. Before LG became one of Apple’s primary supplier of displays, Samsung partnered with Apple about 10 years ago to help the company boost production of its TFT LCD displays.

This new contract deal will be very beneficial to LG—which is currently one of the largest producers of LCD panels in the world—because it will offer LG a great financial boost, especially during this time of economic trouble. LG offered few other details about the agreement, but we can expect to see a lot of LG displays implemented in future Apple products.

Via [Macworld]