Samsung to produce 160M OLED screens for the iPhone 8: report

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Samsung has seen its components business soar recently, helping to offset its struggles in the smartphone industry in the wake of the Galaxy Note 7 debacle.

Samsung has reportedly inked a $4.3 billion deal to supply OLED screens for the next iPhone.

The Korea Herald said the electronics giant will deliver an additional 60 million panels for Apple’s next phone, building on a previous agreement to supply 100 million OLED screens for the device. The iPhone 8 has long been rumored to be Apple’s first device to feature an OLED screen, and Samsung reportedly began ramping up production of OLED displays by more than 50% last year to meet demand from Apple and other smartphone vendors.

The Korea Herald report was picked up by 9to5Mac.

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Apple was widely expected to move from LCD to OLED in the next few years, but Nikkei reported last year that the company was ahead of schedule and was in talks with both LG and Samsung in a deal estimated to be worth $12 billion. The iPhone 8 is widely expected to offer some significant new features including an all-glass design and wireless charging.

Ditching LCD in favor of OLED could provide several benefits for Apple. The technology could be used to make thinner, more flexible displays with curves rather than straight lines with right angles. OLED also requires less power than LCD, boosting battery life, and it supports more vivid colors.

Samsung has seen its components business soar recently, helping to offset its struggles in the smartphone industry in the wake of the Galaxy Note 7 debacle. The Korean vendor posted a 50% year-over-year annual profit in the fourth quarter thanks primarily to the sale of display panels, chips and other smartphone parts.

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