Display Supply Chain Consultants (DSCC) says that in Q1 2018 OLED revenues dropped 33% compared to Q4 2017 (but grew 39% compared to Q1 2017) and amounted to $5.9 billion. DSCC says that OLED revenues will decline further in Q2 2018 but will recover in the second half of 2018. Full-year revenues are expected to reach $26.95 billion, while the market will reach $57.2 billion by 2022.
Samsung Electronics was the top OLED customer in the first quarter, and together with Apple (#2) the two companies consumer 79% of all OLED panels by revenue.
Shipments are expected to increase in the second half of 2018 - and will reach a record 160 million units in Q4 2018.
Looking at OLED makers, DSCC says that Samsung holds a 89% market share, followed by LG that holds 9.5%. Visionox is the third largest OLED producer - but its market share is only 0.7% (but Visionox's revenues grew 425% compared to Q1 2017).
DSCC estimates that flexible OLED panel shipments dropped 40.8% in Q1 2018 compared to last year, and 36% compared to the previous quarter. DSCC though expects flexible OLED shipments to rebound in Q3 2018 - up 95% from Q2. In Q4 2018 flexible OLED shipments will be more or less the same as rigid OLED shipments.
Looking further into the future, DSCC sees OLED smartphone panel shipments increasing until 2022, while LCD shipments decline - as you can see in the chart above. Foldable OLED shipments will begin in 2019 and will grow very fast in the following years.
Finally, looking at OLED TV shipments, DSCC says that shipments increased 116% In the quarter compared to Q1 2017 (but dropped 5.8% compared to Q4 2017). LG Electronics has a 70% market share of all OLED TV makers, followed by Sony and Panasonic. OLED TV panel revenues will reach $6.2 billion in 2022 as shipments will reach 13 million.
