Apple (AAPL - Get Report) is reportedly in the final stages of signing off on new advanced screens for its iPhones from China's top display maker, BOE Technology Group, as the U.S. tech giant attempts to cut costs and reduce its reliance on South Korea's Samsung Electronics (SSNLF) .

The Nikkei Asian Review reported on Wednesday that the iPhone maker is "aggressively testing" BOE's flexible organic light-emitting displays (OLED), raising the possibility that Apple could for the first time source the advanced display technology from China.

Apple will decide by the end of this year whether to take BOE on as a supplier of its single most expensive component, sources told the organization.

OLED displays use an electric current passing through thin films of organic materials to generate light. They not only allow for better contrast and color, thinner smartphones and foldable screens, but could also be used in wearable and other electronic devices.

After a giant head-fake and public relations disaster involving cracked and damaged screens, Samsung last month announced that its high-end Galaxy Fold will be available in select markets beginning in September.

The foldable phone, which will retail for $1,980, was originally slated to hit stores in April, but Samsung quickly halted those plans after reports from early test users in the media showed how quickly the devices broke.

Shares of Apple were up 1.37% at $213.24 in early trading on Wednesday. 

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.