In Q3 2025, the global smartphone market entered a cycle of intensive flagship model releases, driving seasonal growth in panel demand as brands ramped up inventory. Data shows that global smartphone panel shipments totaled 580 million units (Open Cell basis), marking a 5.2% year-on-year increase and a notable sequential rebound.
**Market Segmentation: Diverging Trends with Flexible OLED Leading Growth, a-Si LCD as Foundation** - **a-Si LCD**: Supported by strong demand from repair markets in South China, a-Si LCD shipments remained resilient, rising 6.9% YoY to 330 million units in Q3. It remains a key pillar of the overall market. - **LTPS LCD**: Shipments plummeted 40.8% YoY to 20.86 million units, reflecting a continued decline as brands shift toward OLED. Future growth for LTPS LCD is expected to pivot toward automotive applications. - **Rigid OLED**: Facing pressure from flexible OLED adoption and premiumization trends, rigid OLED shipments fell 3.0% YoY to 49.3 million units. However, some Chinese brands may retain rigid OLED plans in the short term to manage costs amid rising memory chip prices. - **Flexible OLED**: Driven by flagship launches, flexible OLED shipments surged 14.6% YoY to 180 million units. After rapid expansion in 2024–2025, the market is transitioning from high-speed to high-quality growth.
**Domestic Market**: China’s smartphone shipments dipped 1.0% YoY in Q3 as subsidy-driven demand waned and consumer sentiment weakened.
**Competitive Landscape: Chinese Dominance, Korean Firms Hold High-End** The top three panel makers—BOE, Samsung Display (SDC), and CSOT—collectively held a 53.8% market share. - **BOE**: Led global shipments with over 140 million units, though a-Si LCD share declined due to competition. Flexible OLED shipments jumped 25.7% YoY to 38.4 million units, becoming a growth driver. BOE’s G8.6 production line will further strengthen its flexible OLED position. - **SDC**: Ranked second with over 100 million units shipped. Rigid OLED shipments stood at 41.2 million units, while flexible OLED benefited from Apple’s new models, reaching 61.4 million units. SDC retains technological and supply chain advantages in high-end flexible OLED. - **CSOT**: Shipped 70 million units, with a-Si LCD up 59.2% YoY. Flexible OLED shipments dipped to 19.38 million units but are expected to rebound through operational optimizations in 2026.
**OLED Sector: Korean Recovery, Chinese Firms Hold Over 50% Share** Global OLED shipments grew 10.3% YoY to 230 million units in Q3, with flexible OLED up 14.6% to 180 million units. - **Korean Suppliers**: Boosted by Apple’s peak season, Korean OLED shipments rebounded to 120 million units (51.8% share), temporarily overtaking Chinese rivals. Flexible OLED shipments rose 8% YoY to 79 million units. - **Chinese Suppliers**: Expanded shipments by 14.1% YoY to 110 million units, with flexible OLED exceeding 100 million units (+20.1% YoY). Chinese firms maintain over 50% share and aim to further dominate through capacity expansions. - **BOE**: Flexible OLED shipments hit 38.4 million units (+25.7% YoY), securing 21% global share (2nd worldwide). - **Visionox**: OLED shipments grew 25.3% YoY to 25 million units, with flexible OLED up 27.6% to 21 million units. - **Tianma**: Flexible OLED shipments rose 23.3% YoY to 24.2 million units, gaining traction in mid-to-high-end markets.
**Outlook**: Q4 2025 is expected to see seasonal growth driven by holiday demand. Intensifying competition, OLED capacity expansions, and cost pressures from memory chip price hikes may challenge panel makers’ profitability and stability, pushing for vertical integration among leading players.
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