Smartphone Panel Shipments to Dip by 1.7% in 2025, with Chinese Manufacturers’ Share Expected to Exceed 70%

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TrendForce’s latest investigations reveal that while the overall smartphone market is projected to grow by just 3% in 2024, increased demand for refurbishes and second-hand devices is fueling growth in the smartphone panel market. Shipments this year are estimated to grow 6.7% YoY to reach 2.066 billion units.

However, with steady demand for new devices, the smartphone market may return to a more stable supply-demand cycle in 2025. A slight decline in the second-hand market is anticipated, resulting in a 1.7% decrease in smartphone panel shipments to approximately 2.032 billion units.

TrendForce notes that growth trends among major panel suppliers vary. BOE continues to lead globally in smartphone panel shipments, with projected shipments of 593 million units in 2024 and a 2.8% increase to 610 million units in 2025. Samsung Display, the second-largest supplier, benefits from Apple’s demand for AMOLED panels, with shipments expected to reach 376 million units in 2024.

However, Apple is likely to diversify its supplier base in 2025, potentially causing Samsung’s smartphone panel shipments to decline slightly by 3.1% down to 365 million units. HKC, which ranks third, is experiencing rapid growth thanks to cost advantages from its G8.6 production line, with shipments expected to rise from 219 million units in 2024 to 230 million units in 2025—an increase of 4.8%.

Fourth place CSOT has strengthened its partnership with Xiaomi since 2022. The company’s shipments are forecast to reach 191 million units in 2024, marking a 62.9% YoY growth, with a slight increase to 192 million units in 2025. Tianma, ranking fifth, is projected to maintain stable shipments, reaching 188 million units in 2024 and remaining steady in 2025 as a decrease in LTPS LCD demand is offset by an increase in AMOLED demand.

TrendForce points out that demand for AMOLED smartphone panels remains robust in 2024, sustaining high utilization rates across major panel makers, a trend expected to continue into 2025. However, demand for LTPS LCD panels—mainly used in mid- to low-end devices—is gradually weakening, posing a greater challenge for suppliers focused on this technology.

By region, Taiwanese panel makers are seeing their a-Si LCD market share gradually squeezed by HKC’s rapid growth. Japanese panel makers are experiencing a steady decline in market share as they exit the smartphone market. In contrast, Korean panel makers maintain an advantage in the high-end smartphone market due to their advanced flexible AMOLED technology, with a market share of around 20% to 21%. Chinese panel makers are expanding their share in the mid- to high-end AMOLED and low-end a-Si LCD markets. Their global market share is expected to reach 68.8% in 2024 and potentially exceed 70% in 2025, solidifying their critical role in the global smartphone supply chain.