UBI: The OLED market grew only 0.7% in 2020, details revenue by company

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).

OLED revenue by company (2011-2020, UBI)

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).

Posted: Mar 10,2021 by Ron Mertens