Market Research Firm Omdia Forecast
Raises Estimate by 200,000 Units from Initial Prediction
"Impact of Increased Demand for Premium TVs, etc."
LG Display 88-inch 8K OLED [Photo by LG Display]
[Asia Economy Reporter Kim Heung-soon] An analysis has emerged that the annual shipment volume of TV organic light-emitting diode (OLED) panels, which LG Display is focusing on as its main product, will exceed 8.3 million units, an increase of about 86% compared to last year.
According to a report recently released by market research firm Omdia on the 27th, the shipment volume of OLED TV panels this year is expected to reach 8.3 million units. This represents an increase of approximately 86% from last year's shipment volume of 4.5 million units.
Omdia raised its forecast for OLED TV panel shipments this year by about 200,000 units from the previous estimate of 8.1 million units. LG Display exclusively supplies large-sized OLED TV panels worldwide. Currently, it is known that around 20 global TV manufacturers produce OLED TVs.
Previously, LG Display set its annual shipment target for TV OLED panels at 8 million units this year. According to Omdia's forecast, this goal is expected to be easily achieved. Omdia explained, "LG Display's panel production capacity has expanded, and the demand for premium TVs has increased since the COVID-19 pandemic, driving the growth in OLED TV panel shipments."
LG Display is reportedly considering expanding its Guangzhou plant in China by 30,000 units per month in response to the increased demand for OLED TV panels. On the other hand, LCD TV panels, which account for the majority of TV screens worldwide, are expected to decrease by about 2.6%, from 271.7 million units last year to 264.6 million units this year.
Omdia analyzed that domestic companies such as Samsung Electronics and LG Display have been reducing LCD TV panel production since last year as they transition to next-generation displays, and that Korean and Taiwanese display companies have focused on producing LCD panels for IT devices such as laptops and mobiles instead of TVs.
Although the total LCD TV panel volume is expected to slightly decrease compared to the previous year, shipments of large panels over 60 inches are expected to increase due to the trend toward larger TVs. Omdia forecasts that shipments of LCD TV panels over 80 inches will increase by 59% year-on-year to 3.3 million units this year, 70?75 inch panels will increase by 12% to 12.3 million units, and 60?65 inch panels will increase by 14% to 29.1 million units.
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