Chinese Manufacturers Dominate AMOLED Panel Market, Surpassing 50% Share in Q1’24

In the first quarter of 2024, Chinese manufacturers in the AMOLED smartphone panel market surpassed South Korean firms for the first time by securing over 50% of total shipments. At least according to Chinese market research firm, Cinno Research. Global shipments of AMOLED panels totaled approximately 190 million units, marking a significant 44.6% increase compared to the same period last year.

Source: Cinno Research

While the overall market saw a strong start, supported by a recovering macro-economy and strong consumer demand, there was an 18.8% decline in shipments from the previous quarter, which may reflect a typical post-holiday season adjustment.

South Korea’s market share, historically dominant in AMOLED production, decreased to 46.6%, lead by Samsung Display which saw its market share drop from 53.3% to 41%. This decline is partly attributed to its increasing dependence on Apple as a primary customer, while its influence among other Android device manufacturers diminishes. It didn’t help that Apple has suffered its own diminished market share, particularly in China.

Chinese firms like BOE and Visionox showed impressive growth. BOE’s shipments increased by 18.8% year-on-year, although its market share dipped slightly to 17.5%. Visionox, saw a 232.4% surge in shipments, raising its market share to 11.6%. CSOT had extraordinary growth, with shipments up by 294.0% from last year, and its market share climbing to 10.1%, giving it an impactful position in a very short space of time.

So, Samsung and LG seem to have taken the high ground on premium TV OLED panels, and they are getting squeezed on small to medium sized panels now.