BOE reports a 70% drop in profits in 2023, as demand for displays remains low

BOE Group says that profits in 2023 dropped almost 70% compared to 2023, as demand for displays is low. BOE says that its profit in 2023 will be in the range of 2.3 to 2.5 billion yuan (around $324 to $350 million USD). Including some nonrecurring items, the company expects to report a net loss of $77 - $100 million USD in 2023 (that's around 70% lower than the loss in 2022).

BOE 15-inch rollable OLED demo, Display Week 2023

BOE says that its LCD business was more profitable in 2023 - which likely means that its OLED business is still incurring losses. BOE updates that it shipped almost 120 million flexible AMOLED displays in 2023 (in October it said it sold over 100 million).


In November 2023, following some delays, the company officially announced its plans to build a 8.5-Gen IT AMOLED line in Chengdu.

Posted: Feb 01,2024 by Ron Mertens