Apple's first foldable, the iPhone Duo, arrived September 9 at roughly $2,000. The most valuable single component is the inner foldable OLED panel, and Samsung Display won a reported three-year exclusive to supply it, with an initial order of about three million units. BOE, which supplies foldable OLEDs to other brands, reportedly did not meet Apple's specifications.
That fits a wider pattern. BOE supplied about 14 percent of Apple's iPhone OLED panels in the first quarter, and its shipments to Apple are expected to fall from roughly 40 million units last year to about 30 million this year, with Samsung Display and LG Display taking the volume. It had already been pushed off the iPhone 17 Pro panel run after quality problems the year before.
Elsewhere in the bill of materials, Lens Technology won the ultra-thin cover glass exclusively and Hon Hai handles final assembly. Neither is a name I hold.
I hold BOE through CNQQ at 1.38 percent of its latest published holdings. That is the display maker that got left off Apple's most expensive phone. CQQQ takes mainland lines in at a quarter of their market weight, so an A share position reads smaller there by construction.