Reports have now confirmed that Apple has apparently placed a rather substantial order of bendable organic light-emitting diode (OLED) displays from Samsung Electronics. The order is for the company's upcoming new flagship smartphone, the Apple iPhone 8.

According to a report from Nikkei Asia, the Cupertino-based tech company has ordered about 70 million units from Samsung for its latest offering this year. The figure has also been confirmed by several other reports including the estimates published by IHS Markit analyst David Hsieh.

Samsung, on the other hand, is reportedly preparing more panels than were ordered in case the demand should increase. The large order and Samsung's willingness to churn out no less than 95 million OLED panels is a testament to just how confident both companies are in the success of the iPhone this year.

As per ZDNet, the latest reports also coincides with last year's reports that Samsung had signed a deal with Apple to supply them with OLED panels worth 3 trillion won, or roughly $2.7 billion. That is a staggering amount of OLED panels given the fact that all of it will be used on just one version of the iPhone that is expected to be coming this year.

Apple is expected to be coming out with three iPhone models this year. The top-of-the-line premium model, tentatively called the iPhone Edition, will commemorate the device's 10th anniversary. The other two models, namely a 4.7-inch iPhone and a 5.5-inch iPhone Plus variant, will sport the same LED displays as the previous iPhones.

Additionally, several reports have also confirmed that the next iPhones will still apparently be fully waterproof and may come with a wireless charging feature. At least one model out of the three variants may also be coming with a 3D sensor for a more secure facial recognition system. The iPhones are expected to come with a bezel-less design and without a physical home button.