November 2017 -2018 January, LG stock price (unit: won)
Beijing January 3 morning news, media reports said LG Display will supply OLED panels for Apple's new iPhone later this year. Stimulated by the news, the company's stock hit a one-month high on Wednesday.
The apple supplier stock rose 3.35% to 30850 won in early Wednesday, surpassing the same day the 0.2% increase of Korea Kospi Composite Index.
The report said earlier that the company will supply OLED panels to more than 15 million new iPhones in the second half of this year. But the company declined to comment.
LG Display is already the iPhone's LCD panel supplier. LG Display, the world's second-largest monitor maker, is investing in smaller OLED screens in the hope of catching up with Samsung in this lucrative market.
Samsung currently dominates the small-size OLED panel market and is the exclusive OLED panel supplier to Apple's high-end iPhone.
However, LG Display is expected to become Apple's second iPhone OLED panel supplier this year. The company is building a production line of small-size flexible OLED screens and will begin mass production in the second half of this year.