China’s display industry surpassed that of South Korea in 2021

According to the latest report, the Korea Display Industry Association announced that Chinese display makers accounted for 41.5% of the global market last year, while Korean display makers’ market share based on sales revenue was 33.2%. “South Korean companies beat their Japanese rivals and reached the top in 2004, but lost out to Chinese companies 17 years later.”

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Chinese display makers began increasing investment in the LCD sector in the early 2010s amid huge government subsidies, the report said. Then, Korean companies lost price competitiveness and reduced production in this area, while Chinese companies jumped to the top spot in 2018. In this segment, China had a market share of 50.7% last year and South Korea had a market share of 14.6%.

However, South Korea still leads the OLED field, with a global market share of 82.8% in 2021. But China is also poised to catch up in this area. For OLED displays for smartphones and tablets, Tianma Microelectronics, BOE, and others are rapidly increasing investment, and China’s production volume may surpass South Korea’s within two years.

Also, for OLED TV panels, LG Display’s monopoly is expected to be broken within a decade. As the Chinese government increases subsidies, Chinese manufacturers are expected to have a market share of at least 15.5% in this segment by 2026.

(via)