SEOUL, Nov. 27 (Korea Bizwire) — LG Diplay Co.’s share of the market for large display panels fell to the No. 2 spot for the first time since 2009, data showed Monday, paving the way for the rise of China’s BOE Technology Group.
According to the data compiled by industry tracker IHS Markit, China’s BOE took up 21.7 percent of the market for display panels sized 9 inches or larger used in televisions, laptops and tablet PCs over the third quarter.
The figure is a little above that of LG Display, which managed to secure 19.3 percent of the market over the cited period. It is the first time LG Display has lost its throne in the sector since the fourth quarter of 2009.
In the second quarter of 2017, LG Display and BOE locked horns by posting 20.7 percent and 20 percent, respectively.
Other major players for the third quarter included Taiwan’s Innolux Corp., AU Optronics and South Korea’s Samsung Display Co., which posted 16.1 percent, 15.8 percent, and 8.9 percent, respectively.
Industry watchers said the lackluster performance of LG Display came in the wake of the South Korean government’s sluggish progress in giving the nod to the company’s plan to open a new OLED panel factory in China. Seoul’s industry ministry is currently expressing concern over a possible technology leak.
“As BOE kicked off full-fledged operation of the 8.5-generation production line, it is likely to widen the gap with the No. 2 player,” an industry insider said.
LG Display, meanwhile, remains the No. 1 player in terms of revenue as the company focuses on high-end products.