Samsung Display, the display arm of Samsung Electronics, has clinched a deal to supply organic light emitting diode panels for Ferrari’s next generation automobiles, the company said on Tuesday.

Samsung Display CEO Choi Joo-sun and Ferrari CEO Benedetto Vigna agreed for the Korean display maker to supply the OLED panels and support the luxury automaker’s latest effort for digital transformation, the company said.

“Based on our extensive expertise in OLED technology, we are poised to introduce cutting-edge display solutions that meet the Ferrari standard,” Choi said during the signing ceremony held at Samsung’s Asan Campus in Gyeonggi Province.

“We are certain that our collaboration with Ferrari will provide an exciting opportunity to apply our strengths to the supercar field and reinforce our position in the automotive OLED market, enabling us to reach ever new heights.”

The Ferrari CEO, who also attended the signing event, welcomed the partnership, underscoring how it is important in the luxury sector to elevate clients' experience.

“Through this strategic partnership with Samsung Display for the dedicated development of bespoke OLED technology display solutions, we will make a significant step forward in the digital environment of our next-generation models,” Vigna said.

Under the agreement, the two sides will collaborate to develop the latest display solution to be implemented on Ferrari's next-generation cars.

Samsung Display supplies OLED panels to Hyundai’s Ioniq and Audi e-tron, and is actively targeting the automotive display market. Over the past decade, Samsung Display has been expanding its business in the premium smartphone market to lead the technology transition from LCD to OLED.

At the CES 2023 held in January, Samsung Display unveiled its New Digital Cockpit with a 34-inch slim bezel display and bendable technology that creates 700R curvature during driving mode.

The lightweight, slim structure and the thin bezel of OLED panels allow more room for innovative designs, and its true black and high-contrast capabilities satisfy the design needs of leading automakers, the company said.

The display maker also highlighted how OLEDs' low power consumption offers even greater benefits, since every watt saved improves the car’s efficiency and sustainability.