It seems that Samsung wants to concede to LG in order to remain profitable, as the latter secured a deal with the former according to an exclusive report by Reuters.

According to the report, LG Display will supply around 2 million OLED panels next year and aims to boost that to 3 million and 5 million in the next 2 years. Reuter’s sources told them that initial supplies of LG OLED panels to Samsung will be for the latter’s 77-inch and 83-inch TVs.

This will be the first time Samsung has made a deal to secure OLED panels from its rivals after years of being in the rumor mill. Samsung has stopped making OLED TVs since 2015 and pushed for its QLED TVs–however, OLED TVs have remained dominant in the premium market.

The deal is significant for Samsung, as it is finding ways to stay competitive with high-end TVs as Chinese brands are also aggressive with their own offerings. Samsung has recently returned OLED with its Neo QLED TVs.

The deal is a win-win for both parties: LG reported that there’s a sluggish demand for TVs and a lower expected OLED panel sales in its quarterly earnings, while Samsung is facing another bad quarter in its Q1 2023 report following weak semiconductor demand and a cut to its production of memory chips.