UBI Research says that shipments of OLED displays reached 577.88 million in 2020, up 3.7% from 2019. Total OLED revenues in 2020 increased only 0.7% to $32.68 billion as average panel price was lower in 2020 (mostly in the smartphone market).
The main growth in the OLED industry in 2020 came from smartwatches and TVs markets. Smartphone and tablet display shipments actually decreased in 2020. In 2020, new market emerged - automotive displays, laptop displays and foldable devices.
Looking at specific companies, UBI says Samsung Display's revenues in 2020 dropped 15.8% to $22.3 billion. The company shipped 390 million smartphone OLED panels (down 9.3% from 2019). Samsung's OLED market share by revenue dropped from 81.6% to 68.2% in 2020.
LG Display shipped $6.87 billion worth of OLED panels in 2020, and have seen its market share by revenue increase to 21% (almost double from 2019), thanks to higher OLED TV shipments and its smartphone OLED supply deal to Apple.
According to UBI, BOE's OLED sales in 2020 reached $1.86 billion, with a 5.7% market share (up from 3.4% in 2019).
