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LONDON, June 24, 2024 /PRNewswire/ -- AMOLED technology is on a steady rise in the smartphone display market with shipments expected to surpass those of TFT LCDs = in 2024, according to Omdia's latest Smartphone Display Market Tracker.
2023-2024 Smartphone display shipment and forecast by master technology
With the full lifting of COVID-19 control measures in Q2 2023, smartphone display shipments have recovered rapidly driven by the increased outdoor and travel activities. In 2023, annual smartphone display shipments reached 1.45 billion units, marking a steady increase of 5% year-on-year (YoY) from 2022. This growth trend is expected to continue in 2024 with smartphone display shipments in 1H 2024 projected to be 715 million units, up 9% YoY, from 657 million units in 1H 2023.
While overall shipments are rising, a notable shift is occurring within the market: AMOLED shipments are growing whereas TFT LCD shipments are declining.
According to 1Q 2024 actual shipment data, from Omdia's Smartphone Display Market Tracker, AMOLED shipments increased to 182 million units in 1Q 2024, an increase of 39% YoY, while TFT LCD shipments decreased to 172 million units, a 10% YoY drop. This marked the first time AMOLED shipments surpassed TFT LCD shipments on a quarterly basis in 1Q 2024.
Hiroshi Hayase, Research Manager in Omdia's Display research practice notes, "Chinese display makers are expanding the supply of high-quality AMOLED displays to Chinese smartphone brands at lower prices, rapidly replacing TFT LCDs in mid-range smartphones."
Omdia's short-term forecast indicates that AMOLED will account for 53% of smartphone display shipments in 2Q 2024 and expand to 56% in 3Q 2024, exceeding 50%.
"The launch of the iPhone 16 will significantly boost AMOLED shipments in 4Q 2024, and AMOLED is expected to surpass TFT LCDs throughout the entire year of 2024. AMOLED will lead the smartphone display market in shipments from 2024 onwards," concludes Hayase.
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Fasiha Khan: Fasiha.khan@omdia.com
