Foldable Displays Entering Their "Golden Age," Expected to Ship 20 Million Units This Year

Following consecutive foldable phone launches... More than double increase from 9.25 million units last year to this year

[Asia Economy Reporter Jeong Hyunjin] As the "foldable phone era" arrives, the display industry is smiling. With the shipment volume of foldable displays expected to double from last year to reach 20 million units this year, Samsung Display, the "strong player" in the smartphone OLED market, is anticipated to solidify its position.

According to market research firm Omdia on the 19th, the shipment volume of foldable displays is expected to increase significantly to 20 million units this year. The shipment volume of foldable displays, which was around 3.5 million units in 2020, expanded to 9.25 million units last year due to the launch of Samsung Electronics' Galaxy Z Fold3 and Z Flip3. It is forecasted to more than double this year.

In fact, the shipment volume of foldable displays was 450,000 units in the first quarter and 1.35 million units in the second quarter of last year, reaching a peak of 4.3 million units in the third quarter when Samsung Electronics launched new products. The fourth quarter recorded 3.15 million units, with shipments concentrated in the second half of the year. The sales volume of the Galaxy Z series last year is estimated to have increased more than fourfold from the previous year to 8.1 million units. In particular, the shipment volume of the 6.7-inch foldable OLED used in the Z Flip3, which folds vertically, reached 5.3 million units last year. This greatly exceeded the 3.3 million units of the 7.6-inch foldable OLED used in the Z Fold3, which folds horizontally. The Z Flip3, with its innovative design and lower price compared to its predecessor, is analyzed to have influenced the increase in display shipments.

This trend is expected to strengthen further this year. Samsung Electronics continues to target the global smartphone market with the Galaxy Z series, and the mobile industry is following suit by releasing foldable phones after Samsung Electronics. Display specialist market research firm DSCC reported today that Samsung Electronics has raised its planned procurement of foldable display panels this year from 15 million units to 18 million units. DSCC predicted that foldable phones, including Samsung Electronics' Galaxy Z series, which saw significant sales growth in the U.S. last year, will gain popularity in Europe this year.

Alongside this, Chinese company Huawei unveiled the "Huawei P50 Pocket" at the end of last year, and Honor, a Chinese smartphone manufacturer independent from Huawei, recently introduced its first foldable phone, the "Honor Magic V." Chinese companies such as Oppo and Xiaomi have entered the foldable phone competition, and news has emerged that Google and Apple are also preparing foldable phone businesses.

Samsung Display is excited about the boom in foldable displays. Currently, Samsung Display holds over 90% market share in the global foldable phone market. Although Chinese display companies like BOE have been developing technologies one after another, Samsung Display still dominates the market.

Samsung Display plans to maintain its leadership in the smartphone OLED panel market based on foldable displays. According to Omdia, Samsung Display's smartphone OLED panel shipments are expected to increase by 1.7% from last year to 475 million units this year, maintaining the industry's top position with a 69% market share. The shipment volume of flexible OLEDs, including foldables, is expected to see BOE surpass LG Display with 9 million units compared to LG Display's 5.2 million units this year.