Apple will rely solely on LG Display as the supplier for its Apple Watch 2 P-OLED display, according to South Korean media.

At the same time, the report in question also suggests that Apple may go for a yearly launch cycle with the release of its Apple Watch 2.

LG is a dominant player on the smartwatch market, and many might think it's due to its own smartwatches. In fact, LG Display's impressive revenues in the first quarter of this year, drawn from the smartwatch market, are actually thanks to the Apple Watch. The entire smartwatch market is estimated at a value of about $204 million, and LG Display generated revenues of over $186 million in the first quarter of 2015 because it was the sole supplier of P-OLED panels for Apple's first smartwatch.

According to a new MK News report (via GforGames), LG Display will continue to be the sole supplier of P-OLED panels for Apple's second-generation smartwatch as well. MK News further reveals that the Apple Watch 2 may debut sometime in 2016, but offers no specific timeframe for the unveiling.

Apple reportedly considered multiple other suppliers for the display of its next-generation smartwatch, but ultimately decided to continue with LG Display as its exclusive partner. According to sources, Apple reached this decision because LG Display has an unparalleled performance when it comes to making P-OLED displays for smartwatches.

P-OLED display technology is preferred for wearable devices such as smartwatches because it allows for thin bezels, as well as a variety of shapes. LG Display delivers high-quality P-OLED panels at good yield rates, which makes it a top choice among other suppliers.

LG has its own P-OLED smartwatches on the market and has drawn plenty of interest, but close and exclusive collaborations with Apple give it a bigger slice of the pie.

The current Apple Watch, meanwhile, has seen a delayed launch, but is shaping up as one of the most popular wearables on the market. The next-generation Apple Watch 2 should come with notable improvements on both the hardware and software fronts, albeit no official details are available at this point other than a preview of watchOS 2.

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