LG display to quit flexible OLED race, hints Business Korea
In a news report, Business Korea notes that LG Display has already been overtaken by China’s BOE in the small and medium-sized flexible organic light emitting diode (OLED) display business even before it had a chance to alter Samsung Electronics’ market dominance (circa 90.6% market share last year).
According to its vice president Zhang Yu, BOE aims to supply 50 million flexible display panels for premium smartphones this year, way beyond current market estimates (ranging from 20 to 30 million units). The company supplied 3.3 million units last year and plans to invest aggressively in order to take the lead in the flexible OLED business with plans to build a sixth-generation flexible OLED plant in Fuzhou, Fujian Province of China. An industry insider quoted by the journal said BOE was expected to pose a serious threat to Korean display makers since the company is supported by the Chinese government and domestic companies such as Huawei.
While LG Display entered the flexible display market in 2017, BOE overtook LG Display last year, taking 5.2% when LG Display recorded a 4.2 percent market share.
This acceleration from BOE divides industry analysts over whether LG Display should maintain its flexible OLED business for smartphones. “There is skepticism about the flexible OLED business for smartphones inside LG Display, too,” was reported to say an industry watcher.
Source: www.businesskorea.co.kr
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