A Japanese display supplier for Apple reported its first positive quarter in terms of revenue in nearly three years. Japan Display supplies LCD display panels to Apple’s slew of devices such as the iPhone. However, the display supplier is also set to supply organic light emitting diode (OLED) display panels to the iPhone maker in the near future.
The quarter for Japan Display’s ranging from January to March ended with a very positive $87.26 million in profit (9.4 billion yen). Comparatively, the display supplier Japan Display posted a huge 96.7 billion yen loss last year during the same time frame (January to March quarter).
It has been reported the net profit in Japan Display’s finances is mainly because of the sales of its stake in its OLED panel which is also known as JOLED. The company is very likely to become the supplier for OLED panels for Apple, as the iPhone makers continue to look for alternatives to Samsung.
Samsung is known for creating the best OLED panels for smartphones in the industry. Other display manufacturers like LG tried their hand at making OLED panels but the quality could not reach Samsung’s level and LG panels were reported to suffer from various issues. One of the major customers for LG OLED display panels was Google in the past which used LG panels in its Pixel 2 XL phone. Majority of the Pixel 2 XL users reported issues such a blue shift with the display in just a couple of days or months.
Japan Display last showed a positive net revenue back in the October to December quarter way back in 2016. Since then, the company had not posted a positive net revenue quarter until this year’s January to March quarter.
It has also been reported that the sales of Japan Display’s products have been delayed at present (very likely due to the ongoing coronavirus global crisis).