Omdia says that in 2020, LG Display's OLED TV sales surpassed LGD's LCD TV sales, for the first time. LGD's OLED TV sales were 53% of the company's total TV sales (up from 33% in 2019).
Omdia says that it expects LG's total OLED display sales (including TVs, mobiles and automotive displays) to reach 10 trillion Won in 2021 (around $9.15 billion USD).
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Market research company Omdia says that at the end of 2020, 62.8% of all smartphones use OLED panels, while 31.8%, use LCDs (I'm not sure about the rest of the smartphones, maybe some use E Ink displays but not all the rest of the missing 5.4% in Omdia's summary.
Omdia further estimates that SDC's smartphone OLED panel sales will exceed $5 billion in Q1 2021, a 30% increase over Q1 2020.
According to reports from Korea, Tianma plans to ship 40 million OLED panels in 2021. It is estimated that Tianma shipped a million panels in 2020, which means that this is quite an aggressive sales expansion for the Chinese display maker, and according to the report analysts expect the company to actually ship only around 7.5 million panels.
Tianma produces rigid OLEDs at its 5.5-Gen line in Shanghai, and in 2017 Tianma started producing rigid and flexible OLEDS at the company's 6-Gen fab in Wuhan. Later in 2018 the company announced plans to expand its Wuhan flexible AMOLED fab. This expansion plan was reportedly delayed due to the Coronavirus pandemic.
DSCC posted an interesting chart that details OLED smartwatch shipments by supplier. This is an interesting market as there are almost 10 suppliers with no dominant player:
In fact DSCC says that there are five different OLED panel makers (BOE, SDC, LGD, EDO and Truly) that each has a market share over 10% in 2020.
DSCC estimates that foldable OLED panel shipments will reach 3.1 million units in 2020, an increase of 454% from 2019. Revenues in 2020 will reach $462 million. DSCC decreased its estimates following the US restrictions on Huawei which prevented the launch of the Mate X2. The market will grow to 94 million panels by 2025 (a CAGR of 97% from 2018).
Samsung is clearly the leading foldable OLED device brand, with a market share of over 80% in the 2020. The two best selling smartphones in 2020 are the Samsung Galaxy Z Flip and the Z Fold 2.
DSCC says that OLED panel revenues will reach almost $12 billion in Q4 2020 - reaching an all-time high (up 46% from Q4 2019) as all the major OLED markets, smartphones, TVs and smartwatches, saw increased demand.
One of the major drivers for the increased Q4 demand was Apple's later-than-usual release date which pushed orders into Q4 from Q3, and an earlier Samsung S21 release which meant SDC started producing panels for Samsung Electronics's upcoming flagship as early as November. DSCC estimates that Apple will account for 57% of all OLED smartphone panel revenues in the quarter.
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UBI Research says that the COVID-19 pandemic, coupled with US sanctions against Huawei are lowering demand for OLED smartphone panels. UBI estimates that in Q3 2020 113 million OLED smartphone panels were shipped, 17.9% lower than in Q3 2019.
Even though Apple is expanding its OLED adoption, this is not enough to offset the decreased demand from the COVID-19 and Huawei sanctions, and UBI estimates that Q4 2019 will also be lower by around 18% from last year.
DSCC says that the high costs of microLED production will limit the adoption of microLED TVs, which are highly expensive, and the technology will remain in the niche of ultra large displays. The market is set to grow from around $25 million in 2020 to $228 million by 2026.
Just for comparison, six years after being commercialization, in 2019 OLED TV revenues were estimated at $2.5 billion.
