Samsung Display sees new opportunities for sales growth as the growing demand for fifth-generation smartphones is expected to drive up sales of the firm’s small and medium-sized OLED panels.
OLED panels for smartphones are seeing increased demand with the rise in consumption of high-definition video and game content among handset users.
Smartphone makers including Samsung Electronics, Apple, Huawei, Oppo and Vivo have all began to adopt OLED mainly for flagship products. OLEDs offer fast response times, low power consumption and excellent image quality.
The global shipment of 5G smartphones is expected to increase 17-fold from 11 million units this year to 190 million next year, according to the market research firm IDC. The research firm also forecast that the 5G smartphone market would reach 540 million units in 2023, accounting for 31 percent of the total smartphone market.
Samsung Display is currently leading the global market with an 86 percent share in the global OLED market, according to market research firm IHS Markit.