LG Group is expected to work even more closely with Apple with the development of extended reality (XR) such as virtual reality (VR) and augmented reality (AR).
Apple is accelerating R&D in the field. Its VR headset is expected to be launched in the second half of this year. LG Display and LG Innotek are also conducting a lot of R&D activities in order to dominate the emerging market.
The displays of Apple’s first XR devices are likely to be supplied by LG Display and Sony. LG Display is developing OLEDoS panels to that end. The panel is characterized by OLED application to a silicon wafer and a very high resolution of 3,500 PPI for more realistic AR.
According to market research firms, the global XR market is expected to grow six-fold from 2020 to 2024 and the 2024 market size is estimated at US$72.8 billion. In addition, the number of XR devices owned by consumers is expected to increase from 11 million to 150 million from 2021 to 2025.