In 2023, Chinese smartphone manufacturers continued to expand their adoption of OLED technology, increasingly sourcing their required volumes from domestic display panel companies. This shift has led to Chinese display manufacturers breaking through a 40 percent market share.
According to market research firm CINNO Research, the global shipment of active-matrix (AM) OLED panels for smartphones in 2023 was about 690 million units, an increase of 16.1 percent from the previous year. With the gradual recovery of the smartphone market in Greater China towards the end of the year, shipments in the fourth quarter of 2023 increased by 30.9 percent year-over-year and 35.1 percent compared to the previous quarter, totaling approximately 240 million units.
Chinese display manufacturers have expanded their market share, bolstered by increased production capabilities and the penetration of AMOLED into budget smartphones. Based on shipment volumes, the market share of Chinese companies reached 43.2 percent, up 13.9 percentage points from the previous year.
South Korean companies, including Samsung Display and LG Display, accounted for a 56.8 percent market share. Samsung Display’s AMOLED shipments in 2023 dropped by 8.2 percent year-over-year to approximately 344.31 million units, recording a market share of 49.9 percent. This decline is attributed to the shift of orders from Chinese smartphone companies from Samsung Display to BOE and Visionox.
Consequently, shipments from BOE and Visionox were 111.78 million and 68.31 million units, respectively, marking an increase of 44.7 percent and 68.4 percent year-over-year and securing them the second (16.2 percent) and third (9.9 percent) positions in market share. Tianma, ranking fourth, saw its shipments increase by 259.4 percent to 47.61 million units from the previous year, holding a 6.9 percent market share. LG Display’s market share was similar to Tianma, placing it fifth globally.
BOE, China’s largest display company, follows Samsung Display and LG Display in supplying panels for Apple’s iPhone. While domestic companies supply high-specification displays for premium models, BOE has been limited to supplying lower-tier models. BOE has also supplied OLED panels for Samsung Electronics’ mid-range Galaxy series and Galaxy Watch. However, following a patent lawsuit with Samsung Electronics and Samsung Display in 2023, BOE was ousted from the supply chain.