South Korea's share of panel production capacity fell below 10%, while China's share rose to 67%

According to reports, market research firm Display Supply Chain Consultants (DSCC) predicts that South Korea's share of panel production capacity will drop to less than 10% this year. This is because Samsung Display and LG Display shut down their LCD panel business or reduce shipments. Compared with the market share of 19% in 2020, it has dropped to 14% in 2021 and 12% last year. This year it will drop 3 percentage points to 9% compared with last year.

Meanwhile, DSCC forecasts that mainland China's share of panel production capacity will rise from 53% in 2020 to 67% this year and 65% last year. It is estimated that by 2025, the share of panel production capacity in mainland China will further rise to 70%. In contrast, South Korea's share will drop to 8%.

In the field of OLED, South Korean companies are also facing the situation of being caught up by China. In the IT panel market, such as large panels such as TVs, monitors, and tablets,Liquid Crystal Display still occupies an absolute share, while in the smartphone market that mainly uses OLEDs, China's market share is increasing rapidly.

According to statistics from market research firm Omdia, in the first quarter of this year, Samsung Display, the market leader in the small and medium-sized OLED market, sold approximately US$4.68 billion, a 35.5% drop from the previous quarter. Last year, Samsung Display's market share in the field had dropped to 54.7 percent. Meanwhile, BOE, China's largest display maker, more than tripled its market share, from 6.1 percent to 19.2 percent.

Overall, South Korea's share of panel capacity is declining, while China's share is rising. Although South Korea still occupies an absolute share in the IT panel market, China's market share is rapidly increasing in the OLED field and the smartphone market.