• Apple is releasing the new iPhone 12 series on Tuesday
  • Analysts believe LG Display will also benefit from the new devices' sales
  • This is because it supplied Apple with the OLED panels it used on the devices

Apple isn't the only company that will benefit from the upcoming release of the iPhone 12, according to a new report.

The Korea Times reported, citing unnamed sources from the smartphone manufacturing industry, that South Korean tech giant LG is also going to benefit from Apple's iPhone 12 series sales. This is due to the fact that the devices make use of OLED panels manufactured by LG Display.

The “industry analysts” said, per the report:

“LG Display will likely to post an operating profit of more than 110 billion won ($96 million) for the July-September period because its production capacity of OLED displays is increasing and its plastic OLED business is also expected to see soaring demand as Apple is forecasted to use the product for its new iPhone, which will be unveiled this month.”

Apple is expected to release four new models in the iPhone 12 series lineup: a low-end 5.4-inch model called the iPhone 12 Mini; the larger but still low-end 6.1-inch iPhone 12; the more premium 6.1-incher iPhone 12 Pro; and the highest-end model among the bunch, the 6.7-inch iPhone 12 Pro Max.

The iPhone 12 lineup is Apple's largest ever. All four devices are expected to run on the company's newest processor, the A14 Bionic chip, and offer support for 5G connectivity. All four iPhone models feature the best camera setups in the company's history. The iPhone 12 series is also the first lineup where all models will use OLED display panels.

The South Korean display manufacturer is seen to benefit from Apple's decision to use OLED panels for its new iPhone models. The more iPhone units that use LG's OLED panels, the more revenue it brings to the display maker.

The industry analysts added that LG is also expected to see increased revenue next year as more OLED TVs are sold. These TVs make use of LG Display's OLED panels as well.

Apple iPhone 11 Pro - Color Variety
The iPhone 11 Pro's successor is expected to have a better camera setup. Apple