BOE Remains Top Global Smartphone Panel Shipper, CSOT Sees Rapid Growth

BOE Remains Top Global Smartphone Panel Shipper, CSOT Sees Rapid GrowthAccording to a research report released today by TrendForce, the global smartphone panel market is expected to see a 6.7% year-on-year growth in 2024, reaching 2

BOE Remains Top Global Smartphone Panel Shipper, CSOT Sees Rapid Growth

According to a research report released today by TrendForce, the global smartphone panel market is expected to see a 6.7% year-on-year growth in 2024, reaching 2.066 billion units, driven by increased demand for refurbished and secondhand phones, despite an overall smartphone market expected to grow only slightly by 3%.

The report forecasts that in 2025, the market may enter a stable period of supply and demand due to steady demand for new phones. Meanwhile, the secondhand market demand is expected to remain stable or slightly decrease, leading to a 1.7% year-on-year decline in smartphone panel shipments, reaching approximately 2.032 billion units.

The report also provides predictions for the shipments of major panel suppliers, revealing diverse growth trends:

1. BOE

BOE remains the global leader in smartphone panel shipments, with an estimated 593 million units in 2024 and projected to reach 610 million units in 2025, marking a 2.8% year-on-year increase.

2. Samsung Display (SDC)

Ranked second, Samsung Display benefits from Apples demand for AMOLED panels, with an estimated shipment of 376 million units in 2024. However, Apple may increase the supply ratio from other vendors in 2025, potentially leading to a slight decline in Samsung Displays smartphone panel shipments to 365 million units, representing a 3.1% decrease year-on-year.

3. HKC

HKC, experiencing rapid growth, secures the third position. Leveraging the cost advantage of its G8.6 generation line, the company anticipates shipping 219 million units in 2024, with an expected increase to 230 million units in 2025, reflecting a 4.8% year-on-year growth.

4. CSOT

CSOT, ranked fourth, has maintained close collaboration with Xiaomi since 2022. The company projects shipments of 191 million units in 2024, witnessing a remarkable 62.9% year-on-year growth. In 2025, a slight increase to 192 million units is anticipated.

5. Tianma

Tianma, currently in the fifth position, estimates shipments of 188 million units in 2024. In 2025, the company anticipates a relatively stable shipment volume, influenced by a decline in LTPSLCD demand and an increase in AMOLED demand.

The report further indicates that overall AMOLED smartphone panel demand remains robust in 2024, driving high operating rates for major panel manufacturers. This trend is expected to continue into 2025. However, demand for LTPSLCD panels used in mid-to-low-end phones is gradually weakening, posing a greater challenge for suppliers primarily relying on this technology.

From a regional market perspective:

• Taiwanese panel manufacturers' a-SiLCD market share is progressively shrinking under pressure from HKC's rapid growth.

• Japanese panel manufacturers, having rapidly exited the smartphone market, witness a decline in their market share year after year.

• Korean panel manufacturers maintain their dominance in the high-end smartphone market with advanced flexible AMOLED technology, holding approximately 20% to 21% of the market share.

• Chinese panel manufacturers are rapidly expanding their market share driven by burgeoning demand for mid-to-high-end AMOLED and low-end a-SiLCD panels. In 2024, their market share is projected to reach 68.8%, potentially surpassing 70% in 2025, cementing their vital role in the global smartphone supply chain.

Overall, the smartphone panel market is expected to maintain growth momentum in 2024, primarily due to increased demand for refurbished and secondhand devices. However, the market may return to stability in 2025, accompanied by a certain degree of decline.

The evolving trend of shipments from major panel suppliers and the dynamic regional market landscape offer valuable insights for the future development of the smartphone industry chain.