Minister of Trade, Industry and Energy Sung Yun-mo said on the 13th, “This year, we will provide policy support so that we can solidify our global No. 1 competitiveness by expanding technology development support for mass production of next-generation displays and form factor innovative products.”
Minister Seong visited the offline experience zone at the LG Display Magok R&D Center, which is participating in the world’s largest ICT exhibition, CES. It is thanks to preemptive response to future new markets through reorganization,” he said.
Minister Sung visited the experience zone that LG Display prepared under the theme of’Display, now the world in front of you’ to confirm the future of displays such as smart homes and games, and encouraged the people involved.
LG Display has demonstrated convenient and better innovative technologies in life through displays, including various form factor innovative applications such as transparent displays that maximize the advantages of OLED and bendable displays.
LG Display is the only offline exhibition to be held at CES 2021, which was held online for the first time since its first exhibition in 1967.
The Ministry of Industry analyzed that by approving the business reorganization plan of six companies including Samsung Display in September last year and LG Display’s business reorganization plan in December, the display industry can transform into a high value-added export structure.
Last year, display exports decreased by 12.2% from the previous year to only $18 billion, but OLED sales increased by 6.4% to $10.9 billion, the largest export ever. For the third consecutive year, OLED exports reached 10 billion dollars, and the proportion of OLED exports exceeded 60% of the total exports, maintaining the world’s No. 1 market.
This is the result of a Korean company’s preemptive response to the next-generation display market by expanding its premium products such as foldable phones and OLED TVs and switching its business from LCD to OLED.
According to market research firm OMDIA, this year’s global display market is expected to reach 139.8 billion dollars, up 13.8% from last year due to the expansion of non-face-to-face IT products and premium OLED market.
The OLED market is expected to grow by 28.4% due to the expansion of OLED demand in the mobile TV market and premium products such as foldable phones and rollable TVs.
Global OLED shipments are expected to increase from 4.45 million units last year to 6.68 million units this year, and mobile units from 4554.1 million units last year to 592.96 million units this year. In terms of sales last year, mobile was the largest with 79.1%, followed by TV (12.0%), other (8.3%), and notebook (0.6%).
The LCD market is expected to continue to grow (9.3%) on the back of a decline in mobile demand, amid rising TV LCD prices and increasing demand for non-face-to-face IT products.
According to the Ministry of Industry and Display Association, exports this year are expected to reach $18.4 billion, up 2.4% from last year, as demand for innovative new technology products continues to expand while LCD production is decreasing.
OLED exports exceeded LCD exports for the first time in 2019, and since achieving the Golden Cross, the gap has been widening every year. This year, with the release of ultra-high-definition OLED TVs that will lead the premium market following foldable phones, OLED exports are expected to increase by 19.6% from last year to $13 billion, and exports exceed 70% of total exports.
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As the demand for content such as online video service (OTT) increases, ultra-high-definition OLED TVs such as rollable TVs and QD displays, and new OLED innovative products such as gaming and laptops are expected to lead large-scale OLED exports.
Small and medium-sized OLEDs are expected to act as a positive factor for OLED exports as the number of smartphones adopting OLEDs increases, including the promotion of 5G distribution and the launch of advanced new products such as foldable phones and the expansion of low-end smartphones.