Both LG and Samsung are known to be the two biggest suppliers of smartphone AMOLED displays in the world.
"Apple is considering a switchable 60Hz/120Hz refresh rate screen on the iPhone in 2020, and is discussing with Samsung and LG," a reliable Apple tipster, Ice Universe, tweeted on Sunday.
By "switchable 60Hz/120Hz", it is presumed that next year's iPhones would be able to switch to a 60Hz refresh rate whenever static images are displayed in order to conserve battery, Tech Radar reported.
If true, this would not be the first time that the iPhone-maker would be releasing mobile devices with 120Hz displays.
Lacking the OLED screen technology and supporting the LED Retina ProMotion displays, all of Apple's 10.5-inch and 12.9-inch iPads released since 2017 boasted ultra-fast refresh rates.
The OLED screens come with several benefits such as individually-lit pixels, perfect blacks and low power consumption.
More details about the screen technology Apple plans on using for its 2020 iPhones remain undisclosed as of now.
Next year, the company is expected to launch four devices with 5G compatibility and advanced 3D sensing camera technology.
The new line-up would help the company sell 195 million units in 2020, up from an estimated 180 million in 2019, the media has reported.
Currently, Apple is preparing for the launch of this year's iPhone 11 handsets in September.
( With inputs from IANS )