Pulse News of Korea has reported new data from IHS Markit, revealing that LG Display is facing fierce competition from China’s BOE in the battle to lead the global large-size LCD panel market.
During the third quarter of 2018, LG Display ranked first in terms of area shipments with a 21% share, with BOE on 19% and Samsung Display with 15%. However, in terms of unit shipments, BOE took the top spot with a 23% share, with LG dropping down to second place with 20% and Samsung in third with 8%.
LG recently made changes to its business structure due to increasing market competition from Chinese suppliers and falling LCD panel prices. Earlier this month, it was revealed that LG was planning to cut jobs through a voluntary retirement scheme to facilitate its shift from LCD to OLED.
According to IHS Markit, in 2017, global shipments of 9″ or larger LCD panels reached 52 million m² in terms of area shipments — or 197 million units. Area shipments of LCD TV panels rose 15% year-on-year to 40.7 million m², while unit shipments grew 9% to 75 million units.
