In the first half of 2024, LGD, Everdisplay, and Tianma are expected to account for a combined 53% of smartwatch OLED shipments, with Chinese manufacturers contributing 64% of the total.

Release date:

2024-06-14 09:05

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　　On June 13, according to the Omdia Small and Medium‑Size Display Panel Market Tracking Report, LG Display holds a leading position in the smartwatch OLED market, primarily supplying Apple Watch. Meanwhile, since 2023, Chinese OLED manufacturers have been steadily increasing their market share. In the first half of 2024, LG Display, EDO, and Tianma are expected to account for 53% of total shipments, with Chinese OLED makers projected to capture 64% of the market.

　　Smartwatches have garnered increasing attention in the wake of the COVID‑19 pandemic, offering features such as voice assistance, health monitoring, fitness and activity tracking, GPS, communication capabilities, and personal data analytics. Global shipments of smartwatch display panels rose from 259 million units in 2022 to 351 million units in 2023. By 2024, Omdia forecasts that smartwatch display panel shipments will reach 359 million units, with TFT LCDs accounting for 63% and OLEDs for 37%.

　　OLED smartwatches have captured the mid-to-high-end market thanks to their exceptional visibility, superior contrast, slim and lightweight design, and low power consumption. Chinese OLED manufacturers have remained focused on the smartwatch OLED segment, steadily expanding their customer base while enhancing their production capabilities.

　　LG Display and Japan Display supply high-end flexible OLED panels with LTPO backplanes for the Apple Watch, while Samsung Display provides OLEDs for the Samsung Galaxy Watch. Meanwhile, thanks to design choices by smartwatch brands such as Fitbit, Garmin, BBK, Honor, OPPO, Xiaomi, and Google, Chinese OLED manufacturers—including Everdisplay Optronics, Tianma, Visionox, BOE, and Truly—are expanding their OLED panel shipments. At the same time, OLED panel adoption is steadily increasing in non‑branded, entry‑level smartwatches.

　　“Thanks to abundant resources and successful customer‑driven design choices, Chinese TFT‑LCD manufacturers such as BOE have established a dominant position in the smartwatch TFT‑LCD segment. Meanwhile, Chinese OLED makers are steadily expanding their influence in the smartwatch OLED market. With the integration of AI capabilities, smartwatch power efficiency has improved markedly, positioning OLEDs to play a pivotal role in the smartwatch supply chain. This is particularly significant, as several leading smartwatch brands have delayed adopting micro‑LED display panels due to high costs and manufacturing challenges,” commented David Hsieh, General Manager of Display Research at Omdia.

　　“In addition, we observe that smartwatch OLED manufacturers are continuously updating their technology roadmaps to further reduce power consumption and enhance visibility and durability. Chinese OLED manufacturers are playing an increasingly pivotal role in advancing these cutting-edge specifications.”

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