Looks like the second largest manufacturer of LCD displays, LG, has just inked a deal with Apple to provide it with LCD panels for the next 5 years. They haven’t disclosed the full extent of the agreement, but did say that Apple will be paying $500 million in advance. 

This could mean new LED Cinema Displays. Apple did just release the 24-inch LED Cinema Display and they will probably update the line in usual Apple fashion. We do have to keep in mind that LG already makes 70 percent of Apple’s LCD displays and Apple’s desktops the Mac Mini, Mac Pro and iMac still don’t have mini DisplayPort connectors.