Samsung executive Lee Cheong recently confirmed that the Asian technology company will build foldable panels for a “North American client,” South Korean news outlet Chosun Biz reported.
Cheong, who is president of Samsung Display, made the comments ahead of the 16th Display Day commemorative event. He added that Samsung is acceleration plans for mass production of its 8.6th-generation IT OLED display and that government tax incentives should help the display industry, the news outlet added.
Cheong also said that the second half of the year is when its key clients will release their flagship new products, which should help Samsung’s results in the back half of the year. Samsung and Apple (NASDAQ:AAPL), which both compete in the smartphone market, traditionally release their handsets in the second half of the year.
Samsung is widely assumed to be the provider of the display for Apple’s foldable iPhone, which is expected to have ultra-thin glass. Earlier this month, it was reported that Apple was looking into test production for the foldable iPhone in Taiwan and held talks with various suppliers.
Some analysts said the introduction of the iPhone Air this year is laying the groundwork for the foldable version of the iPhone, expected to be announced in 2026.
Samsung and Apple did not immediately respond to a request for comment from Seeking Alpha.
Apple shares fell 0.6% in early morning trading.