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BOE seeks to surpass Samsung in OLED by 2024

BOE, a known Chinese electronics giant and display maker, recently stated that it is seeking to secure 40 percent of the market share for flexible organic light emitting diode (OLED) panels by 2024.

The company revealed its plans at a local display event in the Sichuan Province and also said that it currently holds about 20.3 percent of the flexible OLED panel market share this year. The total estimated value of the flexible OLED panel market is said to be around 49.7 billion US Dollars, according to BOE, and the company wants to further grow in this area, as per TheElec report.

BOE mentioned that a third of the world’s entire output for these bendable OLED panels will be from its factories in Sichuan and Chongqing within the next three to five years. While the company didn’t explicitly state that it wishes to surpass the Samsung, the South Korean tech giant is also one of the major players in this market, and aiming for a 40 percent market share implies competition for such a dominance in the market.

At the moment, BOE is capable of manufacturing about 144,000 substrates for its display panels each month, when all three production lines are operating. The company even plans to produce over 40 million flexible OLEDs by the end of this year, which is about a fourth of what Samsung aims at producing by 2020 end. BOE is also facing issues with its orders from Huawei, which declined in recent times. Although, Apple might be a potential customer for the display maker in 2021 if it manages to get approval during its review.-Gizmo China

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