SEOUL, Aug. 8 (Korea Bizwire) — Demand for foldable panels is expected to grow rapidly in the next five years in different market segments, with Samsung Electronics Co. poised to lead the new trend, a market researcher said Thursday.
Foldable displays for smartphones, tablets and notebooks are anticipated to expand from 360,000 units in 2019 to 67.8 million in 2023, showing a compound annual growth of 272 percent over the period, according to the Display Supply Chain Consultants (DSCC).
Revenue from the sector is expected to jump from US$62 million to US$8.4 billion over the five-year period, the display industry tracker said.
DSCC said Samsung will take a leading role in the emerging display segment as it is set to launch the Galaxy Fold in September and has announced plans to develop various foldable devices.
“Samsung is expected to lead in foldable smartphone penetration and maintain the highest share through the forecast as it looks to establish this category and introduces the most products,” DSCC said in a report.
The researcher predicted Samsung Display Co., Samsung’s panel making subsidiary, to be the dominant panel supplier in the early stage, and China’s BOE will come next with “a low double-digit share,” supplying its product to leading Chinese brands, such as Huawei.
Samsung and Huawei unveiled their own foldable devices earlier this year, pinning their hopes on the new form factor in the smartphone market, which has seen a lack of innovation in recent years.
Samsung had planned to launch the Galaxy Fold in April, but it delayed the schedule to September as it took time to fix some durability issues of the $2,000 device.
Its Chinese rival Huawei is also set to release its Mate X at a higher price tag in September to heat up the competition in the premium segment.