Smartphone AMOLED panel market: Samsung’s market share fell below 50% for the first time in 2023

In 2023, facing fierce competition from Chinese manufacturers, Samsung Display’s market share in the smartphone organic light-emitting diode (OLED) panel market fell below 50% for the first time. BOE and other companies have obtained exclusive supply from Chinese smartphone brands such as Xiaomi and Huawei, and the surge in their market share is seen as an important factor in this transformation. According to market research firm Omdia, the global shipment of AMOLED panels for smartphones under 9 inches increased by 11% in 2023 compared to 2022, reaching 842 million pieces. Samsung Display leads the market with 357 million panel shipments, but its market share has decreased by 13 percentage points from 56% in 2022, falling below 50%. This is the first time Samsung Display’s share has fallen below 50%. The market share of LG Display has also declined, from 11% in 2022 to 10% last year. The active expansion of Chinese competitors has greatly promoted the increase in their shipment volume. BOE is the largest display manufacturer in China and the second largest in the global market, with its share increasing from 12% in 2022 to 15% in 2023. Other Chinese companies such as Weixinnuo (9%), Tianma (8%), Hehui Optoelectronics (6%), and Huaxing Optoelectronics (5%) rank fourth to seventh, accounting for a total market share of 43%. The gap between panel manufacturers in China and South Korea has narrowed to only 10 percentage points. Omdia pointed out that “Chinese panel manufacturers are rapidly improving their production capacity and panel quality.” As the smartphone industry shifts from liquid crystal displays (LCDs) to OLED panels, Chinese manufacturers are intensifying their research and production efforts. Although Korean companies still lead in small and medium-sized OLED panel technology, the adoption of OLED panels in low-cost smartphones allows Chinese manufacturers to provide stable performance at lower costs, thereby replacing Korean manufacturers.