Samsung is reportedly buying OLED TV panels from LG

Samsung has reportedly signed a deal with LG to buy high-end white OLED (WOLED) TV panels from its long-standing rival

According to an exclusive report from Reuters, Samsung Electronics will buy 2 million W-OLED TV panels from LG Display in the first year

The deal will help Samsung to make up ground in the OLED TV market, as the company has taken the approach that OLED displays are a better fit for smartphones and tablets than TVs

Samsung has focused on making QLED models, which are cheaper than OLEDs

Samsung has 6.1 percent of the OLED TV market, according to market research firm Omdia

With this supply, Samsung can create an entire lineup of premium OLED TVs as Chinese firms like TCL, Hisense, Xiaomi, and Skyworth are eating up its low-end TV sales

The historic OLED TV panel deal will be a win-win for both LG and Samsung

The agreement could add north of $1.5 billion to LG's bottom line next year.

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