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

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

OLED version iPad

Rumors about an OLED version of the iPad series continue, with an OLED version of the iPad Pro expected to arrive sometime in 2024. In another report on the subject, it appears that production of key components will begin within months.

Late on Sunday, the Korea Herald said that LG Display's financial situation is expected to improve significantly as it will produce OLED panels for the iPad Pro. Sources said the company's factory in Paju will start production in February 2024.

The report confirms the production claims first revealed on November 8, which also mentioned a February production date. The two reports also mentioned that Apple aims to produce 10 million iPad OLED panels in 2024, with LG Display expected to get 60% of the orders, while Samsung will get the remaining orders.

According to sources, LG is expected to get orders for 12.9-inch iPad Pro and 11-inch iPad Pro displays, while Samsung only makes 11-inch models. Currently, LG and Samsung’s pricing negotiations with Apple have ended. Since the cost per panel is expected to be three times that of similar iPhone products, LG will receive higher revenue from this project.

Industry observers estimate that LG Display will earn about 21.03 trillion won ($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 iPad, operating profit is expected to reach 109.4 billion won, growing to 659.6 billion won by 2025.

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