New Delhi, Jan 5 (IANS): The sales of OLED panels from Samsung Display is expected to cross $5 billion in the first quarter of 2021.

According to a new report from market research firm Omdia, Samsung's sales for OLED panels will exceed $5.18 billion in Q1 2021, thanks to an increase in the adaptation of OLED screens.

This marks a 30 per cent increase compared to Q1 last year when the company made $3.9 billion in revenue out of OLED panels and the new rise is backed by the rise in the use of OLED panels in 5G smartphones.

An OLED display comes with improved image quality - better contrast, higher brightness, fuller viewing angle, a wider color range and much faster refresh rates.

In addition, Samsung Display's OLED panels are also expected to see a surge in sales due to the Apple iPhone 12 series launch.

Currently, it supplies around 8 per cent of all displays for the 2020 iPhone lineup

Samsung's sales are expected to flourish even more in 2021 as Omdia predicts that around 62.8 per cent of all smartphones will ship with OLED panels this year.