Smartphones and high-end TVs have switched to OLED panels. It is estimated that there will be double-digit growth in the OLED market next year, and Korean panel makers are expected to benefit.
Arirang and Yonhap reported on the 26th that the InsTItute for InformaTIon & CommunicaTIons Technology PromoTIon (IITP) quoted IHS data as saying that the global OLED market will jump 32% to US$19.2 billion in 2017; Will soar 22% to 630 million groups
Demand for OLEDs is booming, and high-end TVs are gradually adopting. For smartphones, IHS estimates that 42% of global smartphones will be equipped with OLED panels by 2019. The revenue of smartphone OLED panels will triple by 2020 to $24.8 billion, much higher than the $7.6 billion in 2014.
OLEDs are becoming more popular, and Korean panel exports are also moving closer to OLEDs. In the third quarter of this year, South Korea's liquid crystal (LCD) panel exports decreased by 18.3% year-on-year to US$4.84 billion. At the same time, OLED panel exports increased by 15.8% to US$1.7 billion.
The prospects for OLEDs are promising, and the two Korean panel makers are investing heavily. Samsung Display, a Samsung Electronics company, has spent 7.4 trillion won (about $6.17 billion) to expand OLED panel production this year. Another 5 trillion won will increase production next year. It is rumored that Samsung Display will supply OLED panels for the iPhone 8 coming out next year.
LG Display is not willing to show weakness, plans to invest 6 trillion won to expand the capacity of large-size OLED panels, and the target production will increase from 900,000 this year to 1.7 million.
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