An SEC filing made today shows that Apple and LG have entered into a five year agreement in which LG will supply LCD panels to Apple. The deal also includes a prepayment from Apple to LG of $500 million.
"Although LG Display already had a relationship with Apple, the deal's duration and the size of the advance show that the two companies are involved in a long-term, strategic alliance," said Son Young-jun, a spokesman for LG Display.
LG already supplies displays for 70% of Apple's desktop and notebook computers.