San Francisco, Mar 19 (IANS): In bad news for display market leaders like Samsung and LG, Apple is reportedly designing and producing its own device screens, secretly at a facility near its headquarters in California, according to a media report.

The Bloomberg report report on Monday said Apple was making "a significant investment" in the development of MicroLED display.

"MicroLED screens use different light-emitting compounds than the current OLED displays and promise to make future gadgets slimmer, brighter and less power-hungry," it said.

The 62,000-square-foot manufacturing facility is located in Santa Clara, California.

The news of Apple -- that rely on display panels supply for its iPhone X and Watches from Samsung and LG - entering the device display segment led to shares of Samsung, LG Display and Sharp go down in early trade on Monday.

Currently, Apple Watch screen is made by LG Display. The iPhone X which is Apple's first OLED phone uses Samsung display units.

"MicroLED" technology is still in early stages but Samsung will release "The Wall" later this year which is a massive modular TV with this technology.

According to earlier reports, Samsung may soon not be the only supplier of OLED displays for Apple.

The iPhone maker is reportedly finalising talks with LG on an OLED supply deal which could see the latter provide its panels for this year's iPhone with edge-to-edge display.

Samsung currently dominates supply of OLED displays for Apple's flagship iPhone X. It is believed that Apple will switch to OLED displays for all of its iPhone releasing in 2019.