According to a report by Bloomberg, Apple is making good progress in its Micro-LED development project, and has managed to produce promising display samples. Apple is seeking to use Micro-LED displays in future wearable products.
Apple display facility, Santa Clara, CA
Apple is not likely to become a MicroLED producer, and it will seek partners to eventually produce the displays. However controlling the basic technology could be very beneficial to Apple that aims to be the only company able to use Micro-LED displays - starting in wearables, but also perhaps in smartphones and VR HMDs. In any case, Bloomberg reports that it will still take a few years before Apple's technology is ready for production.