DSCC Survey Results
Samsung Display 36%, Chinese BOE 42% Market Share
Samsung Display has lost its No. 1 position in the foldable panel market to China's BOE. This reflects the realization of concerns over the aggressive entry of Chinese smartphone manufacturers into the foldable phone market.
According to market research firm Display Supply Chain Consultants (DSCC) on the 30th, Samsung Display's market share in foldable panels plummeted from 76% in Q3 last year to 36% in Q4 of the same year, a drop of more than half. This is the lowest figure since Q1 2021. During the same period, BOE increased its market share from 16% to 42%, rising to the top position in the market.
DSCC explained, "Sales of Samsung Electronics' Galaxy Z Flip5 and Fold5 in Q3 and Q4 last year were lower than expected, leading to a significant increase in panel inventory," adding, "Due to the poor performance of these models, Samsung Display's foldable panel shipments decreased by 70%."
BOE expanded its panel shipments as domestic demand for Chinese smartphones such as Huawei, Oppo, and Vivo grew significantly. BOE's panel production is estimated to have increased by about 68%.
Samsung Electronics also struggled in foldable panel procurement compared to China's Huawei. Since entering the foldable market in Q3 2019, Samsung had maintained the top position in panel procurement every quarter, but in Q4 last year, it lost the No. 1 spot to Huawei. Huawei's foldable panel procurement increased by 122% from Q3 to Q4 last year, narrowly surpassing Samsung.
DSCC stated, "The Z Flip series sold well in Korea and Asia but faced difficulties in other regions," and predicted, "Samsung Electronics is expected to launch a lower-priced clamshell foldable phone by the end of this year to resolve Z Flip panel inventory issues."
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