DSCC estimates that OLED revenues in 2023 will be $36.1 billion - down 13% from last year. Just a few months ago DSCC's forecast for 2023 was $38.9 billion. This is the second year that the OLED market is contracting. In terms of shipments, there will be a 5% decrease in 2023. Looking forward to 2024, DSCC sees the market starting to recover, as demand for IT displays, TVs and smartphones will increase.
Looking at specific markets in 2023, DSCC says that OLED smartphone shipments will remain flat, but will drop 11% in revenues - as the demand for higher-end flexible displays is lower than in 2022. The only positive is the foldable display market, where shipments will increase 33% in 2023 compared to last year. 2023 also experiences a big drop in demand for OLED TVs - DSCC sees shipments declining 31% in 2023. The same goes for laptop OLEDs - a 32% decrease in sales in 2023.
Looking forward to 2024, DSCC expects growth in most applications, with over 100% growth in tablets as Apple is expected to deploy its first OLED tablet.
Looking at the OLED revenues market share, by producer, DSCC sees SDC with a market share of over 50%. LGD is expected to increase its market share as it will supply 23% of Apple's iPhone 15 panels up from 17% it supplied for the iPhone 14 series (the rest of the iPhone panels shipments will be supplied by SDC). LGD will also enjoy growth in OLED for monitors and automotive applications.
BOE is the third largest producer, with a market share of 13% in 223 (up from 9% in 2022). BOE has increased its panel shipments in the smartphone market, and also for the automotive market. DSCC expects BOE to also ship some panels for Apple's iPhone series (for older iPhones, but also for the iPhone 15 and iPhone 15 Plus). BOE's Apple's OLED market share will reach 16% in 2023, up from 14% in 2022.