Last Year Shipments of 13.4 Million Units... 6.3% Increase YoY
China's BOE Grows Threefold... "Samsung to Lead Solo for the Time Being"
Samsung Display ranked first in shipments in the foldable phone organic light-emitting diode (OLED) market last year. With the continued release of Samsung Electronics' Galaxy Fold series and Apple's foldable iPhone, panel supply opportunities are expected to increase. Chinese companies also showed rapid growth.
According to the '2024 Small OLED Display Annual Report' recently published by market research firm UBI Research, foldable phone OLED shipments are expected to increase from 27.4 million units this year to 52.7 million units in 2028, nearly doubling, the firm announced on the 26th.
Last year, Samsung Display's foldable phone OLED shipments reached 13.4 million units, a 6.3% increase compared to 12.6 million units in 2022.
Samsung Display's 'Flex In&Out' introduced at CES 2024 held from January 9 to 12 (local time).[Photo by Samsung Display]
Chinese panel makers such as BOE, TCL CSOT, and Visionox also showed fierce competition.
In particular, BOE shipped 6.2 million foldable phone OLED units last year, more than tripling from 1.9 million units in 2022. TCL CSOT and Visionox each shipped 1.1 million foldable phone OLED units.
UBI Research forecasted that despite the pursuit by Chinese companies, Samsung Display will maintain leadership in the foldable phone market. This is because set (finished product) companies that receive panels from Samsung Display are planning to release related new products.
UBI Research stated, "Samsung Electronics is expected to expand the Galaxy Fold series models scheduled for release this year," and "Samsung Display panels are also expected to be applied first to Apple's foldable iPhone to be released in the future."
They added, "Based on this technological capability and competitiveness, Samsung Display is expected to dominate the foldable phone market for the time being."
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