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Apple reportedly orders 70 million OLED panels from Samsung for this year’s iPhone 8

iPhone 8 is undoubtedly one of the most anticipated smartphones out there. Apple has long been rumored to launch a special iPhone 8 with an overhauled design and impressive features. One of the most noticeable features coming in this year’s iPhone 8 is its OLED display. To meet a huge demand for OLED-equipped iPhones, Apple is certainly planning something special this year.

According to sources, the Cupertino company has placed a huge order for 70 million OLED panels for the upcoming iPhone 8 to Samsung. South Korea-based company is now the sole supplier of components for future iPhone models. In reality, last year, Samsung Display reached an agreement with Apple to supply 100 million OLED panels for this year’s iPhone 8. Earlier this year, Samsung reportedly won a $4.3 billion deal to supply 60 million OLEDs

To cover Apple’s huge demand for OLED panels, Samsung is investing heavily in improving its manufacturing facilities and setting up new OLED production plants. Besides, reports also say that Samsung is planning to spend $8.9 billion on expanding its OLED production this year.

According to tech analysts, Apple’s order for 70 million OLED panels doesn’t mean that iPhone  shipments will hit 70 million units this year. Sources say that Apple is having to deal with supply issues that may force the company to launch the premium iPhone 8 in limited quantities.

Apple has long been rumored to launch up to three iPhone models this year including a premium iPhone 8 with OLED display, a 4.7 inch iPhone 7s and a 5.5 inch iPhone 7s Plus. All the three variants of iPhone models are believed to come with long-range wireless charging and waterproofing. Besides, the premium iPhone 8 will feature 3D sensors for facial recognition and augmented reality.

According to rumors, Foxconn-owned Sharp and LG Display will join Apple’s supply chain next year to cover a huge demand for OLED panels.

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