In its official statement, LG called the selected OLED panel because that is the type of screen that is best suited for the use of virtual reality (VR). VR itself is one side of the mobile market that is currently showing growth.
This is actually not the first time that LG uses OLED on its mobile phone. By 2015 they have already used the panel in G Flex 2.
According to Juno Cho, President of LG Mobile Electronic Communications Company, this is the perfect time for the South Korean manufacturer to re-use OLED display in its homemade products, because LG is facing a very tight competition in this business.
The screen size chosen for the V30 itself is 6 inches, but due to the FullVision type, the size of the phone body can be kept small. Even smaller than the V20 that uses 5.7 inch screen.
The screen will be made of plastic, so it will be named P-OLED. The edges will be curved so that more comfortable in the hand, and will be protected by Gorilla Glass 5, as quoted from Phone Arena.