Market research firm DSCC projects a 202 percent increase in OLED tablet unit sales and a 632 percent surge in revenue for 2024, driven by the new 11-inch and 13-inch iPad Pro devices.
LG Display and Samsung Display are key providers of these advanced panels, each supplying 50 percent of the total. LG Display manufactures screens for both models, while Samsung focuses on the 11-inch variant.
The displays utilize Two Stack Tandem OLED technology, marketed by Apple as Ultra Retina XDR, offering enhanced brightness and thinness.
The high-value nature of these components—estimated at $280-290 for the 11-inch and $380-390 for the 13-inch models—is expected to boost the suppliers' profitability. Panel costs account for about 26 percent of the iPads' retail prices.
Further bolstering the outlook, the upcoming iPhone 16 series will feature OLED screens from both manufacturers.
DSCC anticipates a 21 percent increase in OLED smartphone unit sales and a 3 percent rise in revenue.
Despite recent financial challenges, analysts project improved performance for both companies.
LG Display, which reported an operating loss of 469.4 billion won in the first quarter of this year, is forecast to return to profitability by the third quarter. Samsung Display's annual operating profit is estimated to reach between 4-5 trillion won.
In preparation for Apple's expanded use of OLED technology across its product line, including potential adoption in iPad Air, Mini, and MacBook models, both display makers have established dedicated teams to strengthen their partnership with the tech giant.