According to reports from Korea, the OLED market is slowing down, as part of the overall weakness in the consumer electronics markets and specifically in the display market. It is reported that OLED TV sales dropped 18.1% in the second quarter, while in the second half of 2022, LGD's OLED TV panel shipments decreased by 11.4%.
The slowdown is also apparent in the OLED smartphone market, and DSCC estimates that 554 million OLED smartphones will ship in 2022, a 13% decrease compared to 2021.
Last month we reported that LG Display lowered its internal OLED TV panel shipment goal in 2022, as it realizes it will not be able to ship the 7.8 million panels it hoped for. Looking to 2023, however, LGD plans to produce 9.2 million OLED TV panels. One of the LGD's tactics is to start producing smaller OLED displays for monitors and IT devices.