Apple iPhone 7 OLED display to be made by LG, Samsung: report - Tech giant Apple is close to reaching a definitive supply agreement with the display arms of LG and Samsung, both of which have experience in producing flexible OLED panels, according to a report in the Electronic Times.

Samsung Electronics Co Ltd and LG Display Co Ltd plan a combined 15 trillion won ($12.8 billion) in capital expenditure to build up OLED production capacity over the next 2-3 years.

Apple will likely provide some funding to both the companies to help with the investments, as per the report.

The Cupertino-based firm will start using the next-gen technology in its iPhones. OLED screens tend to be thinner and offer better picture quality than the mainstay liquid crystal display screens.