Samsung and LG Display Reaffirm Our Stance on This Holding
Demand trends also confirm a rebound in Apple iPhone demand.
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Despite the phase out of its LCD business, LG Display’s (LPL) third-quarter 2025 revenue increased by 25% quarter-on-quarter, driven by higher organic light-emitting diode display panel shipments across all product categories. We pay attention to this because of our position in Universal Display (OLED) , and LG Display is the second largest buyer of organic light-emitting diode materials, making it a key customer for Universal.
Across all of LG Display’s end markets, organic light-emitting diode products accounted for 65% of total revenue, up nine percentage points quarter over quarter and seven points on a year-over-year basis. By end market, Mobile and Others, which has the largest share, reached 39%, up 11 percentage points Q-o-Q, led by panel shipment growth stemming from the seasonality and preparation for new products.
In LG’s IT segment, which includes the tablet and gaming monitor market, here too the company saw a sharp increase due to organic light-emitting diode display demand and expects that business to benefit from a transition to organic light-emitting diode displays in the notebook market. In the auto market, LG sees expanding in-vehicle display adoption and accelerating enlargement of displays.
But What Did Samsung Say?
As part of its September-quarter earnings report out this morning, Samsung (SSNLF) , which has top spots in multiple organic light-emitting diode end markets and is also a Universal Display customer, sees organic light-emitting diode adoption rising across multiple applications as well.
During the company’s earnings call, it called out strength in the premium and flagship smartphone models, which include AI-enabled and foldable devices. Samsung sees that strength continuing in the current quarter and into 2026, while the lower-tier smartphone market remains challenged.
Connecting the Dots Back to the Pro Portfolio
Apple (AAPL) is a major customer for LG Display, accounting for an estimated 35% its revenue last year, and it also counts Samsung’s Display as a major supplier. Industry estimates peg Samsung supplying around 655 of the organic light-emitting diode displays for Apple’s iPhone 17 lineup.
Based on those relationships, the comments from LG Display and Samsung support September-quarter strength in iPhone shipments and indicate that this should continue in the current quarter. That, along with the reported shift in iPhone production to higher-tier models, bodes well for Apple’s iPhone results when it reports Thursday night, as well as its iPhone outlook. And as we’ve discussed, that also bodes well for Qualcomm (QCOM) .
Turning to our shares of Universal Display, aggregate comments from LG Display and Samsung speak to the market adoption that has been a cornerstone behind our owning OLED shares in the Pro Portfolio. While neither broke new ground, hearing the two largest players in the organic light-emitting diodes display market confirm market adoption trends is more than okay with us.
Apple reports after the market close Thrsday, Qualcomm after the market close on November 5, and Universal Display on November 6.
At the time of publication, TheStreet Pro Portfolio was long OLED, AAPL, and QCOM.
