Rise of Chinese Manufacturers Drives Continued Growth in Global Flexible OLED Panel Market

Rise of Chinese Manufacturers Drives Continued Growth in Global Flexible OLED Panel MarketA recent report from CINNOResearch indicates a sustained expansion in global flexible OLED panel shipments. In the second quarter of 2024, global shipments of flexible OLED (including foldable) smartphone panels reached approximately 160 million units, marking a significant 39

Rise of Chinese Manufacturers Drives Continued Growth in Global Flexible OLED Panel Market

A recent report from CINNOResearch indicates a sustained expansion in global flexible OLED panel shipments. In the second quarter of 2024, global shipments of flexible OLED (including foldable) smartphone panels reached approximately 160 million units, marking a significant 39.9% year-on-year increase and a 17.5% quarter-on-quarter growth. This segment now accounts for 72.2% of the overall OLED smartphone panel market. This expansion is primarily attributed to the continuous release of domestic flexible OLED production capacity and its increasing penetration into lower-tier product markets.

Significantly, domestic flexible OLED panels have made substantial progress in market share. In the second quarter of 2024, shipments of domestic flexible OLED smartphone panels reached approximately 94 million units, demonstrating a remarkable 79.0% year-on-year growth and a 4.7% quarter-on-quarter increase. This segment now holds a 58.9% share, exceeding 50% for the first time and representing a 12.9 percentage point increase year-on-year. These figures illustrate that domestic flexible OLED panels have surpassed their Korean counterparts.

In the mainstream domestic brand flexible OLED smartphone panel market, BOE currently leads with a 28.1% share, though it witnessed a 3.1 percentage point decline year-on-year. Huaxing follows closely with a 26.7% share, securing the second position and experiencing the largest growth with a 12.2 percentage point increase year-on-year. Tianma and Visionox hold shares of 23.8% and 19.6%, respectively. Samsung's share has dwindled to a mere 1.8%, representing a 4.2 percentage point decline year-on-year.

Data reveals that the domestic flexible OLED production rate for mainstream domestic brands has reached 98.2%. This signifies that Chinese manufacturers have achieved a leading position in the flexible OLED panel domain and are gradually replacing their Korean counterparts in terms of market share.

In recent years, mainstream domestic brands like Huawei, Xiaomi, OPPO, and vivo have consistently shifted their flexible OLED panel orders from Samsung Display to domestic manufacturers. This trend reflects the recognition and support of domestic supply chains by Chinese smartphone manufacturers.

As domestic flexible OLED panel technology continues to advance and production capacity steadily increases, the market share of domestic flexible OLED panels within the domestic market is poised to expand further. Simultaneously, Chinese manufacturers are set to play an even more pivotal role in the global flexible OLED panel market.