BOE to overtake LG in becoming largest manufacturer of flat-panel displays
Chinese display manufacturer BOE continues to strengthen its position. Since the company successfully introduced OLED displays for the Huawei Mate 20, its products have become increasingly affordable and attractive.
The production capacity of a flat panel display company is growing rapidly. According to the latest report from the statistical agency IHS Markit, this year, BOE will surpass LG Display and become the world’s largest manufacturer of flat-panel displays.
This year, BOE will ship 17.7% of the total number of flat panel displays. The total area of the shipped BOE displays this year will be 59 million square meters. This includes both LCD panels and AMOLED displays.
Taking into account the plan for the construction of a new BOE plant, the report predicts that by 2023 the capacity of a BOE flat panel production will reach 78 million square meters, which will account to 21% of the world total.
Four years ago, the share of BOE was only 10%, the growth rate in the period from 2015 to 2023 will be 15.7% on average.
Following the footsteps of BOE another Chinese manufacturer Chinastar is also expanding its production line for large-screen ultra-high definition 8K display products and organic light-emitting diode screens in the region.