Samsung Display has relinquished its leading position in the foldable Organic Light-Emitting Diode (OLED) market to Chinese display manufacturer BOE in the last quarter of the previous year.
According to the market research firm Display Supply Chain Consultants (DSCC) on Jan. 30, Samsung Display’s market share in the foldable OLED sector plummeted from 76% in the third quarter to 36% in the fourth quarter of last year, marking its lowest level since the first quarter of 2021.
During the same period, BOE’s market share surged from 16% to 42%, surpassing Samsung Display to claim the top spot.
Samsung Display has maintained the lead in foldable panel shipments every quarter since entering the foldable market in the third quarter of 2019, except for the first quarter of 2021.
However, a significant decline in the shipment of panels for the Galaxy Z Flip5 and Z Fold5 models in the fourth quarter of last year, due to poor sales performance by its main client, Samsung Electronics, led to the drop in market share.
In contrast, BOE, bolstered by Huawei’s smartphone success, increased its panel supply volume by 68% during the same period, achieving a substantial rise in market share. Huawei’s procurement of foldable panels in the fourth quarter increased by 122% compared to the previous quarter.
DSCC anticipates that Samsung Display will soon regain its leading position in the foldable panel segment. However, Huawei is expected to maintain an edge over Samsung Electronics in foldable panel procurement volumes for a while, especially in January and February of this year.