Since the past few years, display technology has made many major developments, and South Korea is the leading country because the two largest display manufacturers are located in South Korea-Samsung Display and LG Display.
However, it seems that China is not lagging behind and may soon catch up with South Korea in terms of display panel market share. According to Omdia’s report (via The Elec), China’s display panel sales will reach US$42.5 billion this year.
This accounts for approximately 36.3% of the market share. At the same time, it is reported that South Korea’s sales are expected to reach 43.6 billion U.S. dollars, accounting for approximately 37.3% of the market share.
Looking at the previous data, South Korea occupied about 40.1% of the market with 44.1 billion US dollars in sales.
On the other hand, the Chinese market only accounts for 31%, with sales of approximately US$34 billion.
The report stated that sales in South Korea will fall by 1.1% this year, while sales in China will increase by 25%. Therefore, China will be able to reach the level of display panel sales in South Korea.
Now, most of South Korea’s sales come from OLED panels, one of the major display companies-Samsung has left the LCD market to focus only on OLED and other display types.
In 2019, South Korea’s OLED panel sales accounted for 88.4%, while China only accounted for 10.1%. However, China has been leading the LCD panel market for more than two years.
In order to expand the market, China plans to start its 14th 5-year plan this year, in which China will focus on its own development of core materials and equipment, while focusing more on the localized supply chain.