South Korean media: South Korea's position in the OLED market is stable but the gap with China is narrowing

South Korean media: South Korea still maintains its position as the "OLED No.1", but the gap with China is narrowing!

On May 9, a South Korean media outlet, Today Finance, published an article stating that South Korea also ranked first in the global OLED (organic light-emitting diode) market last year, but the gap with China is narrowing.

According to recent data released by the South Korean Display Industries Association in its "Major Statistical Data for the Display Industry," the share of South Korean panel manufacturers in the global OLED market fell from 73.6% in 2023 to 67.2% last year.

In the same period, the market share of Chinese panel manufacturers rose from 25.7% to 33.3%. Although South Korea maintained its position as the global leader with more than double the share of China, the gap is narrowing.

The OLED sales revenue of South Korean panel companies increased from $31.516 billion in 2023 to $36.28 billion last year, representing a growth of 15.1%. This was attributed to the first application of OLED in Apple's iPad last year and the rising demand for LTPO (low temperature polycrystalline oxide) OLED.

The LCD (liquid crystal display) market share of South Korean panel companies decreased slightly from 10.1% in 2023 to 10.0% last year. As LG Display sold its Guangzhou LCD factory to China Star Optoelectronics Technology (CSOT), South Korean enterprises are reducing their presence in the LCD business, with further declines expected. The LCD market share of China increased from 60.9% in 2023 to 63.4% last year.

Last year, South Korea's total market share in display panels, including OLED and LCD, was 33.1%, down slightly from 33.2% the previous year. During the same period, China's market share rose from 48.1% to 50.8%.

The South Korean Display Industries Association predicts that the global display market size will reach $139.3 billion this year, an increase of 4.6% compared to last year. This forecast reflects the growing demand for high-end OLEDs with the popularization of AI and the expansion prospects of new markets such as IT and automobiles. However, if the U.S. government extends its tariff measures, there could still be a demand contraction in the upstream industry due to high prices and weakened price competitiveness, resulting in reduced panel demand and a shrinking global display market.

Source: https://www.toutiao.com/article/1831648211696652/

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