iPhone OLED Screens: Tech and display companies have been affected by recent rumors that suggest Apple (NASDAQ:APPL) would be using organic light-emitting diode (OLED) screens for the three new iPhone models that they have planned for 2019.
Universal Display Corp. (NASDAQ:OLED), a New Jersey-based tech company that produces OLED screens, could benefit if Apple does decide to use OLED screens for its planned iPhones.
On Tuesday, Universal Display shares increased by nearly eight percent, as of 1:00 pm EDT and has been able to reach a high share value of $117.35 USD and a low of $105.40 USD. Universal Display closed at a share value of $99.65 USD on Friday.
iPhone OLED Screens – Who’s Affected?
As a result of the rumors, shares of Japan Display Inc. (TYO:6740), which is one Apple’s main suppliers for its liquid crystal display (LCD) screens, fell by nearly eight percent on Tuesday. Shares fell to a value of JPY 127.00, or approximately $1.17.
Comparatively, Japan Display closed at a share value of JPY 138.00, or nearly $1.66, on Monday and JPY 140.00, or $1.68, on Friday.
According to a recent Reuters article, Japan Display has “lagged…in OLED production,” although the company plans to start producing more OLEDs from 2019.
Masayuki Otani, a chief market analyst at Securities Japan, has said that the company has been slow to catch up with OLED production, according to Reuters.
Shares of other tech companies that produce OLED screens, such as South Korean LG Display Co. Ltd. (NYSE:LPL), have also increased since the rumors arose.
LG Display shares have gone up by just over 1.6%, as of 1:20 pm EDT, on Tuesday. The company has been able to reach a high share value of $10.73 and a low of $10.37.
Comparatively, LG Display closed at a share value of $10.26 on Friday.
The full effect of Apple’s rumored decision may only be felt once it is either confirmed or denied.
Featured Image: twitter