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(Pocket-lint) - LG has been a pioneer when it comes to developing and manufacturing OLED TVs, just take a look at the OLED W7 Wallpaper TV and you'll see just what the company is capable of. But LG's OLED tech has yet to be filtered down to its smartphones, but that could be set to change according to a recent report.

Ok, so it technically won't be the first LG phone to feature an OLED screen, that accolade belongs to the G Flex, but considering it was considered a commercial failure, LG will be hoping the V30 can perform much better.

Korean news outlet The Investor cites "industry sources" as saying the LG V30 will be released in September 2017, and will be the first LG phone to feature an OLED display. The G7 flagship will then also receive an OLED panel when it's released in 2018.

The Investor's source said: "Most OLED screens produced at LG Display's Gumi E5 plant in the second half will be used for its sister firm LG Electronics' smartphones, starting with the V30".

"Some of the OLED production will be supplied to Chinese phone makers who are hoping to catch up with front-runners such as Samsung and Apple".

LG has used LCD panels in its recent smartphones, while rivals such as Samsung and now potentially Apple, have adopted OLED screens for their greater contrast levels. It's thought that LG will begin producing OLED panels for the V30 in July, and will be accelerating efforts to improve yield rates, with the hope of attracting third parties to eventually supply to.

Samsung Display, Samsung's OLED panel producing unit, dominates the mobile OLED market and is thought to be the sole supplier for the Apple iPhone 8 which will be released later this year.

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No other specs or features of the V30 have been leaked just yet, but using the V20 as a benchmark, we'd expect a metal build, dual camera and a large screen around the 5.7-inch mark.

Writing by Max Langridge.