Apple and LG Sign Five-Year Deal for Displays
According to a regulatory filing made today by LG, the display manufacturer has signed a five-year deal to provide LCD panels to Apple, a deal that includes an upfront payment by Apple of $500 million. Reuters cites analyst comments that LG currently supplies displays for 70% of Apple's computer products, so the new deal suggests a strengthening of the existing relationship that should bring long-term price and supply stability.
"Although LG Display already had a relationship with Apple, the deal's duration and the size of the advance show that the two companies are involved in a long-term, strategic alliance," said Son Young-jun, a spokesman for LG Display.
The deal appears similar to ones announced in November 2005 in which Apple agreed to pay $1.25 billion upfront to a number of flash memory manufacturers as part of long-term supply agreements.
Popular Stories
Bloomberg's Mark Gurman has high expectations for Apple's first foldable iPhone.
In his Power On newsletter today, he said the foldable iPhone will be "the most significant overhaul in the iPhone's history."
"iPhone 4, iPhone 6 and iPhone X were clearly a big deal, but this is a whole new design," he said.
Like Samsung's Galaxy Z Fold 7, the foldable iPhone will reportedly open up like ...
March has been an incredibly busy month for Apple, with the company unveiling more than 10 new products and accessories. We said hello to the MacBook Neo at the start of the month, and we bid farewell to the Mac Pro at the end of it.
Nevertheless, there is still a lot more to come this year.
Beyond the usual annual updates to iPhones and Apple Watches, Apple's all-new smart home hub is...
Apple is expected to release two new iPhone apps this year, including an Apple Business app and a Siri app with chatbot-like functionality.
With the Apple Business app, employees at businesses using the new Apple Business platform will be able to install apps for work, view contact information for colleagues, and request support. Apple Business is launching on April 14, and it replaces Apple ...
