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China to catch-up with South Korea for display panel market share this year

Display technology has been seeing a lot of major developments since the past few years and South Korea is the leading country as two of the largest display manufacturers are based there — Samsung Display and LG Display.

However, it seems that China isn’t far behind and could soon catch-up with South Korea in terms of market share for the display panels. As per the report coming from Omdia (via The Elec), China’s display panel sales will reach $42.5 billion this year.

This accounts for around 36.3 percent of the market share. At the same time, it is reported that South Korea is expected to have sales of around $43.6 billion, which converts around 37.3 percent of the market share.

Checking the previous data, South Korea occupied around 40.1 percent of the market with sales of $44.1 billion. On the other hand, China had just 31 percent market, posting sales worth around $34 billion.

The report claims that South Korea’s sales will drop by 1.1 percent this year while that of China will see an increase of 25 percent. Thus, China will be able to reach the level of South Korea for display panel sales.

Most of the sales for South Korea now comes from OLED panels as one of the major companies for the displays — Samsung has left the LCD market and is just focusing on OLED and other display types.

In the year 2019, South Korea’s OLED panel sales accounted for 88.4 percent while that of China accounted for just 10.1 percent. However, China has been leading the LCD panel market for over two years now.

In order to boost its market, China is planning to commence its 14th 5-year plan this year in which the country is focusing on developing core materials and equipment on its own and focus more on the localized supply chain.-Gizmo China

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