OLED display shipments for smartphones and foldable devices are projected to grow significantly through 2029, according to a new report from UBI Research.
Total OLED shipments for these devices jumped 27% YoY in 2024, reaching 834 million units for smartphones and 24 million units for foldable phones. This growth was driven by Samsung Electronics expanding its rigid OLED usage and increased flexible OLED production from Chinese manufacturers.
The market is expected to continue its upward trajectory, with projections for 2025 reaching 910 million smartphone units and 38 million foldable phone units. UBI predicts shipments will cross the 1 billion units threshold in 2026 and reach 1.3 billion by 2029.
Apple’s anticipated entry into the foldable phone market in 2026 is expected to accelerate growth in that segment. However, despite increasing shipment volumes, revenue is forecast to decline from 2025 onward due to lower selling prices, particularly affecting Chinese flexible OLED shipments.
While Chinese panel makers will gradually increase their revenue share as production volumes grow, Korean manufacturers are expected to maintain dominance with over 50% of market revenue through 2029, according to UBI.
