Samsung Display maintained the lead in the smartphone display market throughout Q1 2020, reveals a new report from Strategy Analytics. Global revenues have increased by 3% year-over-year, with the entire smartphone display market registered total revenues of $9 billion over the previous quarter.
The trend in Q1 2020 was a higher demand for OLED solutions and an oversupply of LCD panels due to falling demand. Global revenues got bumped up slightly only thanks to the increase in popularity for OLED panels, and because Samsung Display is the leading OLED distributor in the world, the company was able to capitalize on this higher demand and managed to cover 52% of the global smartphone display market by the end of Q1 2020. Samsung Display was followed by BOE Technology and Tianma Microelectronics.
Flexible OLED technology also proves to be a success
LCD technology seems to be on its way out, not only in regards to smartphones but also larger panels. Samsung already decided to end production of all LCD panels by the end of the year. Meanwhile, the company is focusing its efforts on OLED panel production as well as the manufacturing of flexible OLED solutions. Samsung is the primary flexible OLED maker in the world and this also contributed to its success in Q1 2020.
As for the near future, Strategy Analytics estimates that the global smartphone display market will likely feel the negative effects left in the wake of the COVID-19 pandemic in the coming months. The output will reportedly experience a slowdown due to the disruption in supply chains of customers.
