LG Display (LGD) has started shipping OLED TV panels to Hisense, which will roll out OLED TVs in the third quarter of 2018 at the earliest, according to a Korea-based Yonhap News Agency report.
The China vendor's entry into the OLED TV market will help trigger demand for LGD's OLED TV panels, and boost OLED panel prices, said the report.
Hisense is currently the largest TV vendor in China and also holds a 15% share of the over US$2,000-segment of the global TV market.
LGD's clients for OLED panels include LG Electronics, Panasonic, Sony, Toshiba, Philips, Loewe, Skyworth, Changhong and Sharp.
Global shipments of OLED TVs totaled 602,000 units in the first quarter of 2018, compared to 287,000 units shipped a year earlier, according to IHS Markit.
Global OLED TV shipments are expected to climb to 673,000 units and 743,000 units, respectively, in the second and third quarters before reaching a peak of 804,000 units in the fourth quarter, IHS has estimated.