The global smartphone display panel market clocked total revenue of $43 billion in 2020, according to the Strategy Analytics Handset Component Technologies service report, “Smartphone Display Panel Market Share Q4 2020: Samsung Display Remains Top, Achieves Record Revenue Share.”
Strategy Analytics finds that Samsung Display took the leadership in the smartphone display panel market with 50 percent revenue share followed by BOE Technology with 15 percent and LG Display with 8 percent in CY 2020. The smartphone display panel revenues were up 7 percent year-over-year 2020 driven by the expansion of OLED display technology in the supply chain of key smartphone vendors, leading to increased shipment of OLED panels to customers. The top-three display panel vendors took almost 73 percent revenue share in the global smartphone display panel market in 2020.
Smartphone Display Panel Market Revenue Share 2020 (Graphic: Business Wire)
Jeffrey Mathews , Senior Analyst at Strategy Analytics commented, “Strong seasonal demand and 5G momentum led to the growth of the display panel market for smartphones. New device launches based on Flexible OLED and Rigid OLED display panel aided in the revenue growth of the smartphone OLED panel segment in 2020. Samsung Display achieved record smartphone panel revenue due to the strong design wins across key devices. As OLED demand increases, the vendor will face increased competition from LG Display, BOE Technology, Visionox and TCL CSOT.”
Stephen Entwistle , Vice President of the Strategic Technologies Practice at Strategy Analytics noted, “We forecast that the display panel procurement by smartphone OEMs will be steady through 2021, driven by 5G and high-end display technologies. At the same time, we expect LCD displays to fall behind in share to OLED displays in the smartphone display panel market.”
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