In Q4 2023, BOE Overtakes Samsung in Foldable Display Market Sales
Foldable smartphones have slowly and gradually attracted the attention of the masses. With time, more and more OEMs are now interested in debuting their foldable products on the market. Given this, the requirement for foldable displays has increased. Surprisingly, BOE, a display manufacturer from China, has managed to outperform the South Korean conglomerate in this particular segment.
According to Display Supply Chain Consulting (DSCC), in Q4 2023, BOE managed to secure 42% of the market share. Samsung Display, on the other hand, secured 36%. For the China BOE, the increased research and development on foldable displays has finally paid dividends. Huawei, an important player in the smartphone market, has a significant demand for foldable displays, which is another factor contributing to BOE’s rise to the top. BOE’s rise was driven by Huawei’s astounding 122% growth in foldable display purchases in Q4 2023.
With this, the share of Samsung was significantly reduced. Reportedly, the company experienced a huge drop from 76% (Q3) to 36% (Q4). It appears that it was the conclusion of Samsung’s dominance in the global OLED foldable market that was recorded for five consecutive years. The latest advancement denotes a shift in the foldable display industry that mirrors the interaction of supply and demand patterns.
The partnership between BOE and Huawei, along with the huge demand for foldable smartphones, was a significant factor that contributed to outstanding performance in the last quarter. Huawei surged more than 122% from the previous quarter to become the top purchaser of foldable display panels, surpassing Samsung in the process. Furthermore, several other Chinese OEMs launched their foldable products last year, which also led to more sales for BOE.
Well, it appears that it might not continue in the future since, in the second quarter of the current year, Samsung Electronics will reportedly increase the purchases of foldable panels from Samsung SDI. In 2024, Samsung will debut its Galaxy Z Fold 6 and Galaxy Z Flip 6 at the second Unpacked event. Reportedly, Apple is also working on a foldable smartphone. It is expected to hit the market in 2026.
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