China Overtakes Korea in Display Market

For the first time, China overtook Korea in cell phone and computing device display shipments in the first three months of 2024.

According to data from Chinese market observatory Cinno Research, published by The Korea Herald, shipments of Chinese OLED (organic light-emitting diode) displays for computer gadgets, including smartphones and tablets, accounted for 53.4% of the total from January to March, with a 15.6% year-on-year growth for “Made in China” products, while the figure in Korea was stuck at 46.6%.

In any case, the leadership is still in the hands of Samsung with a 41% market share, but shipments are down 12.3% from 2023, followed by Chinese brands, such as BOE Technology with 17.5%, Visionox with 11.6%, CSOT with 10.1%, and Tianma with 9%, while Korea’s LG has only 6%.

“It is important to realize that a significant portion of China’s supply covers domestic demand. Chinese IT companies and smartphone manufacturers strategically prefer to use Chinese OLED panels,” Yi Choong-hoon, CEO of UBI Research, commented to The Korea Herald. He also adds that Korean display makers still maintain a technological advantage in OLED panel production and that in terms of revenue, Korean companies are still the winners, especially because Chinese companies producing this screen type are targeting the market’s lower end. Therefore, according to the analyst, the economic impact for companies with quality products will be limited.