Used and Refurbished Phones Drive Growth; Smartphone Panel Shipments Expected to Slightly Decline in 2025

Used and Refurbished Phones Drive Growth; Smartphone Panel Shipments Expected to Slightly Decline in 2025According to the latest report from TrendForce, the continued growth in demand for used and refurbished phones will drive the smartphone panel market this year, with shipments expected to reach 2.066 billion units, a year-on-year increase of 6

Used and Refurbished Phones Drive Growth; Smartphone Panel Shipments Expected to Slightly Decline in 2025

According to the latest report from TrendForce, the continued growth in demand for used and refurbished phones will drive the smartphone panel market this year, with shipments expected to reach 2.066 billion units, a year-on-year increase of 6.7%. Looking ahead, as new phone demand stabilizes, the demand for the secondary market is expected to remain stable or decline slightly, leading to a 1.7% year-on-year decline in smartphone panel shipments in 2025, with an estimated 2.032 billion units.

China Mainland Panel Makers Continue to Gain Market Share

In regional market analysis, Chinese mainland panel makers continue to gain market share, driven by the rapid growth in demand for high-end AMOLED and low-end a-SiLCD panels. Their market share is expected to reach 68.8% in 2024 and potentially exceed 70% in 2025.

Taiwanese Panel Makers Affected by HKC's Surge

Taiwanese panel makers are seeing their a-SiLCD market share shrink due to the rapid development of HKC. Meanwhile, Japanese panel makers are experiencing a continuous decline in market share as they accelerate their exit from the smartphone market.

Korean Panel Makers Maintain Lead with High-End Technology

In contrast, Korean panel makers maintain their leading position in the high-end smartphone market thanks to their advanced flexible AMOLED technology, with their market share remaining between 20% and 21%.

BOE Remains Global Leader, Samsung Display Benefits from Apple Demand

In terms of specific manufacturers, BOE has secured its position as the world's leading smartphone panel supplier, with shipments expected to reach 593 million units in 2024 and 610 million units in 2025, representing a 2.8% year-on-year increase. Samsung Display, ranked second, is expected to ship 376 million units in 2024 thanks to Apple's continued support for AMOLED panels. However, due to fluctuations in Apple's demand next year, shipments are expected to decline slightly to 365 million units, a year-on-year decrease of 3.1%.

HKC Rises Rapidly with Cost Advantage, CSOT Works Closely with Xiaomi

Leveraging the cost advantage of its G8.6 generation line, HKC ranks third, with shipments projected to reach 219 million units in 2024 and grow to 230 million units in 2025, representing a 4.8% year-on-year increase. CSOT has been working closely with Xiaomi since 2022, and its shipments are expected to reach 191 million units in 2024, a 62.9% year-on-year growth. Shipments are expected to increase slightly to 192 million units in 2025.

Tianma's Shipments Expected to Remain Flat

Tianma, ranked fifth, is expected to ship 188 million units in 2024. However, due to declining LTPSLCD demand and rising AMOLED demand, shipments are expected to remain flat in 2025.

Conclusion

Overall, the smartphone panel market is expected to see growth in 2024, primarily driven by demand for used and refurbished phones. However, looking ahead to 2025, with new phone demand stabilizing and secondary market demand slowing down, smartphone panel shipments are expected to experience a slight decline. Chinese mainland panel makers will continue to expand their market share thanks to cost advantages and technological advancements, while Korean panel makers will maintain their advantage with high-end flexible AMOLED technology. The competitive landscape for other manufacturers will continue to evolve.