Omdia '2024 Korea Display Conference'
Analysis shows that China is rapidly catching up with Korea in the OLED market. China already dominates the LCD market and is now expanding its influence in the small- and medium-sized OLED markets for smartphones, laptops, tablets, and more.
David Xie, Senior Director at Omdia, stated at the '2024 Korea Display Conference' held on the 17th at EL Tower in Seocho-gu, Seoul, "The market share of Chinese panel and material companies in the OLED market is steadily increasing. In the past, Samsung Display and LG Display monopolized the smartphone OLED panel market, but China has surpassed 48% in the smartphone OLED panel market and is expected to exceed 50% in the near future."
David Shi, Senior Director of Omdia Taiwan, is presenting on the display market outlook at the '2024 Korea Display Conference' held on the 17th at EL Tower in Seocho-gu, Seoul. [Image source=Yonhap News]
He added, "Chinese panel companies are focusing more on expanding market share rather than profitability." Investment support from the Chinese government is also continuously increasing. The launch of foldable phones by Chinese smartphone companies such as Vivo, Oppo, and Honor has played a significant role in increasing China's OLED market share.
The leadership of the Korean OLED market is also under threat. Jung Yoon-sung, Managing Director at Omdia, explained, "Korea grew the OLED market in the 2010s with the success of the Samsung Galaxy S series. Now, China is rapidly catching up domestic companies by securing a testing ground through the use of OLED in Vivo, Huawei, and Oppo."
Chinese companies are also intensifying their pursuit in the laptop and tablet markets. Omdia forecasts that the market share of Korean companies in the laptop OLED market will drop below 90% for the first time ever this year, standing at 75.8%. Jung said, "Chinese companies have started building 8.6-generation OLED factories and are actively expanding their market share in the small- and medium-sized OLED market. Huawei OLED laptops, which did not exist until last year, suddenly appeared in the market this year and have become the largest vendor for Chinese panel companies."
Jung Yoon-sung, Executive Director of Omdia, is presenting on the prospects of the large display industry at the '2024 Korea Display Conference' held on the 17th at EL Tower in Seocho-gu, Seoul. [Image source=Yonhap News]
In the TV market, LCD TVs still lead, and demand for OLED TVs is declining. Park Jin-han, Director at Omdia, analyzed, "Chinese LCD TV manufacturers are focusing on ultra-large TVs over 80 inches, causing OLED TVs to lose competitiveness." It is also noteworthy that Chinese TV manufacturers like TCL and Hisense are achieving results in the large TV market.
According to Omdia, TCL and Hisense ranked first in the 80-inch and 75/79-inch markets respectively in the second quarter of this year, surpassing Samsung Electronics, which had held the top position.
The global display market is expected to grow this year in both sales and area. Senior Director Xie said, "Compared to last year when the display industry hit bottom, sales will grow by 13% and area by 6% this year. Next year, growth of 7% in sales and 9% in area is expected." He added, "The recently announced Chinese government subsidy policy for home appliances will also stimulate TV demand," predicting that TV demand will increase by about 2 to 3 million units, with energy-efficient large-sized TVs benefiting the most.
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