SEOUL, South Korea (AP) -- LG Display Co. has reached a long-term deal with Apple Inc. to supply flat panels to the iconic maker of computers, music players and smart phones.
The contract between the two companies is for five years and calls for LG to receive an advance payment of $500 million sometime this month, the South Korean company said in a regulatory filing Monday.
Seoul-based LG Display and Apple, headquartered in Cupertino, California, planned to decide later on details such as the number of panels LG will provide, LG said.
LG Display declined to provide further details.
Shares in LG Display fell 0.8 percent to close at 23,550 won ($17.33).