Samsung is the world leader in OLED panels, while other companies produce a tiny number of such displays. Initially, OLED displays were used primarily in the products of the South Korean giant, but gradually they began to be sold to third-party companies. As a result, the production of such screens has become a profitable business for Samsung, and it dominates this segment.
Among the competitors of the South Korean giant in this field, whose share and weight are steadily growing, one can count the Chinese company BOE, whose panels are increasingly being installed in the devices of the Chinese manufacturers.
The growth in product demand is allowing BOE to make ambitious plans. And it has already stated its desire to control 40% of the flexible OLED panel market in 2024. Now, the company counts among its achievements that its share in the market of flexible OLED displays is 20.3%. And it intends to further increase its presence in this segment.
So, it plans that in the near future a third of the world’s production of flexible panels will be produced at its factories located in Sichuan and Chongqing. And in the future, the launch of another production line at a factory in Fuqing.
BOE shipped 16 million flexible OLED panels in the first half of the year
Chinese display panel maker, BOE, is not doing badly in the market. According to recent reports, BOE’s flexible OLED panel shipments increased significantly in the first half. The company shipped 16 million flexible OLED panels, a significant increase year-on-year. In fact, its shipments for H1 2020 is almost equal to its shipment for the whole of last year.
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BOE’s shipments of flexible OLED panels last year were 17 million. This means that the 16 million units that it has for the first half of this year are only 1 million units short of its entire shipment for last year. This is equivalent to a 94% increase.
For the whole year of this year, BOE’s goal is to ship 40 million flexible OLED panels. This will be an increase of 23 million from last year’s 17 million and a year-on-year increase of 135%.
As far as BOE’s annual flexible OLED panel shipment target is concerned; its shipment volume in H2 2020 has to hit 24 million to achieve its target. That is, the shipment volume in the second half of the year needs to increase by 50% relative to the first half.
Although BOE’s annual shipment target for this year is more than twice that of last year’s shipments; there are reports that its 40 million target is still much lower than its original target. At the end of 2019, before the outbreak of the coronavirus, BOE planned to ship more than 70 million flexible OLED panels this year.