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The next-gen iPhones may soon sport an OLED screen, as reports suggest LG and Samsung planning massive investments to supply OLED screens for Apple.

There have been reports in the past speculating that Apple Inc. (NASDAQ:AAPL) may deploy OLED screens on its next iPhones. Japan’s Nikkie reported last month that Apple is planning a switch to the more advanced OLED screens in favor of the conventional LCD screens currently used in iPhones starting 2018.

Now a report by Electronic Times citing unnamed sources claims that Korean manufacturers LG Display Co (NASDAQ:LPL) and Samsung Electronics (NASDAQ:SSNLF) will provide OLED screens for Apple’s iPhones. Both companies are now close to reaching an agreement with Apple to supply OLED display units.

The Electronic Times report further added that both Samsung and LG have a combined planned investment of $12.8 billion in capital expenditure to set up OLED production facilities in the next two to three years.

However, all the parties involved have not yet made any official comments about the agreement. Notably, the report also adds that Samsung will be the one who’ll be supplying larger volumes than LG Display. Though Nikkie’s report published last month said LG is setting up a massive production facility to mass-produce OLED screens at its main manufacturing facility of Paju in South Korea.

In addition, LG also announced that it’ll be investing $927 million in a small-scale line for OLED panel production at its plant in the city of Gumi. Investing in such a venture could also turn out to be a big source of revenue for the two, who’ve off-late shown poor quarterly earnings given the intense competition and the rising popularity of iPhones in China and India.

LG and Samsung both use OLED technology in their high-end devices as they offer better contrast, better color reproduction, deeper blacks and at the same time being more power efficient. Hence, OLED technology is undeniably far advanced as opposed to the traditional LCD screens that have been used in cell phones for almost two decades since the 90s.

Though Apple is still stuck with the conventional LCD screens, which was apparently also used in the first iPhone when it debuted in 2007. However, it seems Apple now realizes the continued advancements being made in OLED technology as it has been researching on OLED screens for several years now. And now with numerous reports suggesting such as move, it’s most likely that the next iPhone might indeed sport an OLED screen.

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