Small and medium-sized OLED panels produced by Samsung Display will account for more than 50% of the smartphone market next year, surpassing TFT-LCD panels.
According to IHS Markit data, the share of smartphone OLED panels will continue to grow from 40.8% in 2016 to 45.7% this year.
Next year, the market share of OLED panels is expected to exceed TFT-LCD panels for the first time.
IHS Markit said that next year's OLED panel sales are expected to reach 20.7 billion US dollars, and the share of the smartphone market is expected to reach 50.7%.
On the other hand, sales of TFT-LCD panels are expected to reach $20.2 billion, which is expected to account for 49.3%.
The OLED panel market is expected to continue to grow, with a market share of 73% in 2025.
The rapid growth of the OLED panel market is attributed to its superior image quality and thinness.
In addition, flexible OLED panels offer advantages in the full-screen application market.
Samsung Display said that flexible OLED panels have been used in the Galaxy S series and iPhone X models, and these products are increasingly being supplied to Chinese smartphone manufacturers.
OLED panels have always been considered high-end products, but the market is changing now because it surpasses LCD in terms of performance and price competitiveness.
Samsung Display attributed the rapid growth of the OLED market to its continued efforts in research and development.
The company began mass production of OLED panels for the first time in 2007 and has been developing and mass producing flexible OLEDs for the global market.
Samsung Display accounted for 95.4% of the small and medium-sized OLED panel market in the first quarter, and the high value-added flexible OLED market accounted for 97.4%.