The file photo provided by LG Electronics Inc. on Feb. 22, 2022, shows a digital billboard advertising LG OLED TVs at Times Square in New York.
SEOUL, Aug. 17 (Korea Bizwire) — Despite the sluggish growth of the global display market, OLED sales remained solid in the second quarter of this year, justifying the shift that Samsung Display Co. and LG Display Co., South Korea’s two largest display makers, have made towards OLED-centered ventures.
Global OLED panel revenue grew by 12 percent year on year in the second quarter of this year, boosted by rising demand for use in monitors, tablets, and automobiles, according to the latest report from market researcher Display Supply Chain Consultants (DSCC).
Omdia, another market research firm, predicted that nine global monitor makers, including Samsung and LG, would release 12 or 13 types of new OLED monitors, increasing their sales of OLEDs for monitor use by more than 200 percent this year.
During the same period, the sales of OLEDs for use in tablets and automobiles increased by 65 percent and 33 percent, respectively.
In contrast, the sales of OLEDs for use in smartwatches and TVs declined by 11 percent and 13 percent, respectively, in the second quarter of this year due to a decline in demand amid concerns about an economic slump.
Despite a drop in existing OLED demand, the growth of the overall OLED market continues thanks to the expansion of demand in new application areas.
In contrast, LCD demand is cooling down. According to DSCC, demand for LCDs is forecast to decline by 0.7 percent this year compared to a year ago.
Kevin Lee (kevinlee@koreabizwire.com)
