China's Foldable OLED Panels to Surpass Samsung's in 2024
TapTechNews June 17th news, Omdia released the Smartphone Display Panel Intelligence Service report. In the first half of 2024, the shipment volume of China's foldable OLED panels is expected to be 6.4 million pieces, exceeding (surpassing) the shipment volume of 5.7 million pieces of South Korea's Samsung for the first time, accounting for 53% of the total shipment volume of foldable OLED panels.
Samsung: The market share of shipment volume in 2021 is 90%, in 2022 is 84%, in 2023 is 68%, and the expected market share of shipment volume in the first half of 2024 is 47%.
BOE: The market share of shipment volume in 2021 is 7%, in 2022 is 16%, in 2023 is 22%, and the expected market share of shipment volume in the first half of 2024 is 40%.
Visionox: The market share of shipment volume in 2023 is 4%, and the expected market share of shipment volume in the first half of 2024 is 9%.
ChinaStar: The market share of shipment volume in 2021 is 3%, in 2022 is 0%, in 2023 is 6%, and the expected market share of shipment volume in the first half of 2024 is 4%.
Samsung, as the leader in foldable OLED panels, has the first-mover advantage. Its market share of shipment volume reached 90% in 2021, but is expected to drop to 47% in the first half of 2024. The shipment volume market share of domestic foldable OLED panels represented by BOE will increase from 10% to an expected 53% in the first half of 2024.
The reasons for the above changes in market share are obvious. Currently, Samsung's foldable OLED panels are mainly used in its own Galaxy Z Fold/Filp and W series product lines, while the customers of domestic foldable OLED panels involve a group of manufacturers such as Huawei, vivo, OPPO, Honor, Motorola, and Nubia, and the corresponding base is continuously increasing.
According to the previous report of TapTechNews, in the first quarter of 2024, Huawei's market share of shipment volume of global folding screen products is 35%, surpassing Samsung's 23% market share for the first time. Motorola and Honor show a rapid growth momentum with a year-on-year growth rate of 1473% and 460% respectively.
David Hsieh, general manager of Omdia Display Research, said that the market of foldable smartphone display panels has increased significantly, and its shipment volume reached 10.7 million pieces in 2021, 16.6 million pieces in 2022, 21.8 million pieces in 2023, and is expected to reach 30 million pieces in 2024.