The change will exclude two Japanese panel suppliers, Japan Display (JDI) and Sharp, a US company that manufactures mobile phones, Nikkei stated in the report.
Smartphone manufacturers are increasingly opting for OLED displays because they offer sharper and more dynamic colors.
JDI and Sharp had a combined 70% share of iPhone displays about a decade ago, but recently supplied LCDs only for the iPhone SE, the report added. Neither company mass-produces OLED displays for smartphones.
The iPhone maker has already started placing orders for OLED displays for the upcoming iPhone SE with Chinese company BOE Technology and South Korean company LG Display, Nikkei reports.
Apple uses OLED panels in its premium iPhone models and first used them in the iPhone X.