Samsung is looking to turn its losses over, and this is through a reported partnership with its rival, a fellow South Korean company, LG. It is widely known that LG is among the top developers of TV displays and other screen technologies in the world, with Samsung rivaling the company in this industry, but has been losing significant money in recent times.
This newly reported partnership is a way to make up for its losses and improve its display technology, with the focus now looking to buy OLED TV displays from its rival.
Samsung is Looking to Partner with LG Again for OLED Displays
In a surprising turn of events, Samsung Electronics is reportedly exploring the possibility of partnering with its South Korean rival, LG, to purchase OLED TV panels, according to Reuters. This move comes as Samsung faces financial challenges, and acquiring OLED panels from LG could potentially help offset its losses.
OLED technology has gained immense popularity in the TV industry due to its superior picture quality and contrast levels.
Samsung, on the other hand, has been championing its QLED (quantum-dot LED) technology as a more advanced alternative to OLED. However, it appears that Samsung is now considering incorporating OLED panels from LG into its television lineup.
Reports Claim Samsung Trashed the Original Deal with LG
Notably, a previous OLED partnership deal between the two companies in 2021 fell through, adding intrigue to this potential new collaboration.
According to Ars Technica, the reported partnership aims to address Samsung Electronics' financial woes, as the company has been facing challenges in recent times.
The abandoned OLED partnership between Samsung and LG in 2021 adds an interesting backdrop to this potential collaboration. While the details surrounding the termination of the previous deal remain unclear, it appears that the companies have found common ground to revisit the possibility of working together to secure OLED panels.
Samsung and its Television Display Development
Samsung is a known Smart TV developer in the current industry, with good deals available in the market.
However, what is not known among the general public is that it is not faring well in the industry, particularly with its reluctance to use OLED, as it is LG's proprietary tech.
By sourcing OLED panels from LG, Samsung would be able to leverage LG's established expertise in OLED development. This could potentially expedite Samsung's ability to introduce OLED TVs to the market and mitigate the costs associated with developing its OLED production capabilities.
The collaboration has the potential to reshape the dynamics of the TV market, with two fierce competitors joining forces to deliver innovative and high-quality products.
The outcome of this potential deal would also have implications for consumers, as it may result in increased availability and competitiveness of OLED TVs in the market. The combination of Samsung's brand and LG's OLED expertise could result in significant advancements and improved devices for TV users worldwide.
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