Popular Foldable Panels... "Shipment Volume Expected to Surpass 10 Million This Year"

[Asia Economy Reporter Jeong Hyunjin] As the foldable smartphone panel market centered around Samsung shows rapid growth, it is forecasted that more than 10 million panels will be shipped this year. Based on the early success signs of the Galaxy Z Fold3 and Z Flip3, Samsung is focusing on mass production of smartphones and display panels, which is expected to expand the market size beyond initial expectations.

On the 26th, display market research firm DSCC projected in a recent report on foldable displays that the shipment volume of foldable smartphone panels will reach 10.4 million units this year. In June, the company had forecasted about 8.9 million units for this year, but raised the estimate by 14% within two months. Considering that last year's shipment volume was around 3.2 million units, it is predicted to more than double.

DSCC noted that Samsung, leading this market, is focusing on supplying high-priced premium products with high profitability, and expects the panel shipment volume for the recently unveiled Z Fold3 and Z Flip3 to exceed initial estimates. In fact, pre-orders for the Z Fold3 and Z Flip3 from the 17th to the 23rd totaled approximately 920,000 units, and the first-day activation on the 24th for pre-order customers reached about 270,000 units, setting a record high.

Samsung Display holds an overwhelming market share of around 80% in the foldable smartphone panel market. Samsung Display's market share was 83% last year, and it is expected to maintain a high level of 84% this year and 80% next year. Samsung Display implemented the 'Under Panel Camera (UPC)' technology, which embeds the smartphone front camera within the panel to eliminate the camera hole, for the first time in the Z Fold3. Additionally, Samsung Display exhibited the 'Flex In & Out,' an S-foldable product that folds twice forward and backward, at the IMID 2021 Korea Display Industry Exhibition held the day before.

The foldable smartphone panel market is expected to continue growing steadily. DSCC forecasts that panel shipments will expand further to about 18.7 million units next year. However, besides Samsung Electronics, interest in foldable smartphones from Chinese manufacturers including Huawei is increasing, which is expected to intensify technological competition in the panel market.