By Li Panpan
China’s display market share is expected to rise to 43% this year from 41.5% in 2021. Korean companies logged a market share of 33.2% in 2021, losing the No. 1 position they have maintained for 17 years since 2004 to Chinese manufacturers, reported Business Korea on November 3.
In the LCD market, China's market share reached 50.9% in 2021, while South Korea posted a mere 14.4%. As profitability deteriorated due to a price war waged by Chinese companies, Samsung Display decided to suspend LCD production in the second quarter of this year. LG Display implemented an LCD exit strategy ahead of schedule after recording a loss for two consecutive quarters.
China is also in hot pursuit of South Korea in the OLED sector. While South Korea’s OLED market share fell from 98.1% in 2016 to 82.8% in 2021, China rose from 1.1% to 16.6% during the same period, said the Business Korea report.
The report said that the Chinese government has continued to support its display industry greatly, while the Korean government started to support the display industry belatedly.
Korean president Yoon Suk-yeol announced 12 national strategic technologies, including displays, at the National Science and Technology Advisory Conference on October 27. In addition, the Korean government is exploring ways to make the display industry eligible for government support under the Act on Special Measures for the Reinforcement of National High-tech Industry Competitiveness, which came into effect in August, added the report.