- Apple releases the new iPhone 12 series on Tuesday
- Analysts believe LG Display will also benefit from sales of the new devices
- Indeed, he provided Apple with the OLED panels that he used on the devices.
Apple isn’t the only company that will benefit from the upcoming iPhone 12 release, according to a new report.
The Korea Times reported, citing anonymous sources in the smartphone manufacturing industry, that South Korean tech giant LG will also benefit from sales of Apple’s iPhone 12 series. This is because the devices use OLED panels made by LG Display.
“Industry analysts” said, according to the report:
LG Display will likely post an operating profit of over 110 billion won ($ 96 million) for the July-September period, as its OLED display production capacity grows and its plastic OLED business is also expected to experience a decline. demand increases as Apple is expected to use the product for its new iPhone, which will be unveiled this month.
Apple is expected to launch four new models in the iPhone 12 lineup: a low-end 5.4-inch model called the iPhone 12 Mini; the larger but still low-end 6.1-inch iPhone 12; the higher-end 6.1-inch iPhone 12 Pro; and the highest-end model of the group, the 6.7-inch iPhone 12 Pro Max.
The iPhone 12 lineup is the largest ever created by Apple. All four devices are expected to run on the company’s latest processor, the A14 Bionic chip, and offer 5G connectivity support. All four iPhone models feature the best camera setups in company history. The iPhone 12 series is also the first line where all models will use OLED display panels.
The South Korean display maker would benefit from Apple’s decision to use OLED panels for its new iPhone models. The more iPhones that use LG’s OLED panels, the more revenue it brings to the display maker.
Industry analysts added that LG is also expected to see revenue increase next year as more OLED TVs are sold. These TVs also use LG Display’s OLED panels.