Global AMOLED Smartphone Panel Market Shows Resilience with 44.6% Year-on-Year Growth

CINNO Research's latest figures reveal a shift in the global AMOLED smartphone panel market with a staggering 190 million units shipped worldwide in the first quarter of 2024, marking a 44.6% surge compared to the previous year.

This aligns with a broader global economic recovery, driving the momentum for the smartphone market, particularly in the demand for AMOLED panels. Despite a MoM 18.8%, the YoY growth underscores the robust appetite for these advanced displays.

Regionally, South Korea's market dominance slightly waned to 46.6%, while Chinese manufacturers surged to 53.4%, breaching the 50% mark for the first time.

Samsung Display (SDC), a key player, saw an 11.1% increase in AMOLED panel shipments YoY, yet its market share contracted from 53.3% to 41.0%. This shift indicates a growing reliance on Apple and Samsung devices, with orders from other Android brands dwindling.

BOE experienced a slight market share decrease to 17.5% but remains a dominant force, especially in LTPO panel shipments, surpassing other domestic manufacturers.

Visionox emerged as a strong contender, boasting a remarkable 232.4% year-on-year increase in shipment volume and securing 11.6% market share globally and second domestically. Visionox's strategic turnover rate and efficient production lines position it favorably against its competitors.

CSOT demonstrated the most significant surge, with a 294.0% year-on-year increase in AMOLED panel shipments and a market share increase to 10.1%. This places CSOT as the fourth largest globally and third domestically, showcasing its remarkable growth trajectory.

The first quarter of 2024 has proven to be a period of shifting dynamics in the global AMOLED smartphone panel market. As demand continues to surge and key players adapt to evolving market conditions, the stage is set for an exciting and competitive year ahead in this dynamic industry.