Heralded by many for their computers and lean-running operating system, Apple is also known for its top end LCD displays. Known as some of the most color-accurate displays on the market, Apple Displays also fall in line with Apple's design scheme, making them popular with - you guessed it - Apple computer users.
Like many monitor manufacturers, Apple does not make its own LCD panels. For this, they go to several panel manufacturers, most notably LG. Now, in a multi-year, multi-million dollar deal, LG will be supplying Apple with nearly 70% of its needed panels for a wide range of Apple products. With three different standalone displays, two iMac sizes and a myriad of notebook offerings, LG and its 70 percent display stake in Apple will be considerably busy for the next several years.
While most of the details are yet to be seen, a filing with the Korea Exchange reveals that LG was paid $500 million in advance. "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 LG Display spokesman Son Young-jun.
LG, the electronics conglomerate based out of South Korea and the world's number two LCD panel manufacturer, trails its hometown rival Samsung when it comes to overall LCD sales. However, it does have a more diversified product offering, which includes LCD TVs, monitors, cell phones and kitchen appliances. With LCD panel prices now stabilizing, the rivalry between two of Korea's electronics giants will only intensify. With any luck, this will mean less-expensive LCD TV's for consumers.