LG Display plans to supply 700,000 liquid crystal display (LCD) panels for TVs to Samsung Electronics this year, Yonhap news agency reports, citing industry tracker IHS Markit. Samsung earlier intended to acquire panels from Sharp, but the Japanese company announced it would end the supply after being purchased by Taiwan's Hon Hai Precision. Sharp is estimated to have provided 5 million LCD panel units to Samsung in 2016, accounting for 10 percent of Samsung's annual demand for LCD panels.
Back in February, LG Display said it was in talks with Samsung on the LCD panels deal, with the supply scheduled to begin in the second half of this year. An official from Samsung said the two companies have not yet signed an official agreement.