A research note from Korea's Meritz Securities was spotted by tipster @Jukanlosreve that talks about how, at the beginning of last year, LG and Samsung were estimated to deliver around 9 million OLED panel shipments belonging to the M4 iPad Pro. Unfortunately, due to a lack of demand, the revised figure dropped to approximately 5.7 million units. In 2025, we should expect more or less the same reception because the OLED found in the M5 iPad Pro family is projected to ship only 5.5 million units.

The firm's research note states that "The OLED iPad Pro model, first launched last year, incorporated several new technologies such as tandem displays and a hybrid OLED structure. Although it achieved a 15% reduction in weight and a 22% reduction in thickness compared to the existing Mini-LED models, its high price prevented it from becoming a hit.

• At the beginning of last year, Samsung Display and LG Display planned to produce over 9 million OLED panels for the 11-inch and 12.9-inch iPad Pro combined, but the final shipment volume was around 5.7 million units.
• Our firm assessed Apple’s iPad Pro shipment target—shared with panel suppliers earlier in the year—to be approximately 6 million units. However, starting in January, Apple has taken steps to minimize panel purchases, given its pessimistic outlook on iPad Pro demand for this year.
• Notably, this year’s OLED iPad Pro model features no changes in hardware specifications, including the display, which means there are few factors to drive demand growth.
• Reflecting this, our firm expects the projected demand for OLED iPad Pro panels in 2025 to be revised downward to around 5–5.5 million units, lower than previous forecasts. <Revisiting Apple’s OLED Transition Roadmap>

Following the lackluster performance of the OLED iPad Pro, Apple has re-examined and revised its roadmap for OLED adoption. Tablet

iPads

• The OLED iPad mini will be released as originally planned in 2026, and the OLED iPad Air will be advanced from 2028 to 2027. In contrast, the upgrade for the OLED iPad Pro is delayed from 2027 to 2028.
• While the OLED iPad mini and iPad Air will utilize a hybrid OLED structure, a single-stack approach is expected to be applied for cost reduction, unlike the iPad Pro.
• The upgraded iPad Pro, scheduled for release in 2028, is expected to be the first among Apple’s tablet products to incorporate COE (Capsule OLED Encapsulation) technology.
• A foldable iPad is likely to be released after 2028, and similar to the upgraded iPad Pro, it is expected to feature both tandem display and COE technology.

MacBooks

• The OLED-equipped MacBook Pro is scheduled to be released at the end of 2026 as originally planned. It will utilize Samsung Display’s IT 8th generation OLED line, incorporating a hybrid structure, tandem display, and Oxide TFT.
• The planned OLED adoption for the MacBook Air, originally scheduled for 2027, is delayed until after 2028. While the hybrid structure will be maintained, a single-stack approach is expected to be applied, unlike the Pro.
• In the short term, there are market concerns due to the poor performance of the OLED iPad Pro; however, it is anticipated that by 2028–2029, OLED panels will be exclusively applied to all iPad and MacBook models. Furthermore, the additional release of foldable products is expected to act as a positive catalyst.