Shulou(Shulou.com)11/24 Report--

August 29 news, according to foreign media reports, LG, which has obvious advantages in the large-size OLED panel market, is also vigorously developing small and medium-sized OLED panel business. Their OLED panels have also entered Apple's supply chain and are widely used in iPhone 12 and iPhone 13.

South Korean media reports show that with the increase in automobile demand for OLED panels, LG display is also vigorously supporting the development of automotive OLED panel business.

South Korean media reported that the size of the automobile OLED panel market is expected to be $160 million this year, with a compound annual growth rate of 42% in the next few years, and the market size will increase to $670 million in 2025, which will exceed the overall growth rate of the car panel market.

LG also has a clear advantage in terms of OLED panels for cars, with LG displays dominating the market since mass production of OLED panels for cars began in 2019, with a market share of more than 90 per cent.

In the automotive panel market, LG showed that it had a market share of 19.7% in the first quarter of this year, making it the largest manufacturer, with a rapidly increasing market share of 10 inches and above. Their goal is to increase their share of the automotive panel market to 30% in the next three years.

Market researchers also expect the automotive OLED panel market to grow, reaching $9.5 billion in 2023, up from the previous estimate of $8.8 billion, and exceeding $10 billion to $10.5 billion for the first time in 2024.

Foreign media reported that as the shortage of automotive semiconductor parts began to ease in the second half of this year, car sales will gradually normal, electronic components manufacturers, panel manufacturers will also benefit from it. The increase in automobile demand for OLED panels will, to a certain extent, offset the decline in demand for LG display large-size LCD and TV OLED panels, stabilizing their performance.

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