The Total Revenue Of The Global Smartphone Panel Market Reaches 43 Billion USD In 2020

Mar 29, 2021 News

The Total Revenue Of The Global Smartphone Panel Market Reaches 43 Billion USD In 2020

According to the latest report, the global smartphone panel market's total revenue will reach 43 billion US dollars in 2020, a year-on-year increase of 7%. Among them, OLED panels contributed 60% of the revenue share.

Data shows that Samsung Display leads the global smartphone display panel market with a 50% revenue share, followed by BOE with 15% revenue, and LG Display has an 8% market share.

Global smartphone

Strategy Analytics pointed out that as the world's major mobile phone manufacturers expand their OLED use, OLED panels' shipments have increased. In 2020, three-panel suppliers, Samsung, LG, and BOE, accounted for nearly 73% of the global smartphone display panel market.

Jeffrey Mathews, the Senior Analyst at Strategy Analytics, said, "Strong seasonal demand and 5G momentum are driving the growth of the smartphone display market. New devices using flexible OLED and rigid OLED panels released in 2020 will also help smartphones—revenue growth in the OLED panel market.

The analysis also pointed out that although Samsung Display achieved record revenue last year, with the increase in OLED demand, Samsung will face fierce competition from LG Display, BOE, Visionox, and TCL Huaxing.

Stephen Entwistle, Vice President of Strategic Technology Business at Strategy Analytics, said, "We predict that driven by 5G and high-end display technology, smartphone OEM's display panel purchases will remain stable by 2021. At the same time, we expect That LCD's share will lag behind OLED".

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