Foldable smartphones are finally getting to the masses, with several OEMs debuting in this segment last year. With the increase in sales, the requirement for foldable displays is at an all-time high. In a surprising twist, BOE has emerged as the new leader in the foldable display market, outpacing long-standing frontrunner Samsung Display. As per the report from Display Supply Chain Consulting (DSCC), BOE secured a commanding 42% market share in Q4 2023, while Samsung Display trailed at 36%.
The increasing research and development around foldable displays has finally paid off for the China BOE. Also, BOE’s ascent to the top is attributed to the substantial demand for foldable displays from Huawei, a key player in the smartphone industry. Huawei’s remarkable 122% increase in foldable display procurement during Q4 2023 fueled BOE’s surge.
On the other hand, the shift marks a substantial decline for Samsung, experiencing its most significant quarterly drop from 76% (Q3) to 36% (Q4). The dip signals the conclusion of Samsung’s uninterrupted 5-year dominance in the global OLED foldable market. The new development signifies a transformation in the foldable display market that reflects the interplay of demand and supply trends.
China’s BOE partnership with Huawei and robust demand for foldable smartphones made them stand in the first position for their Q4 2023 tenure. In another story, Huawei overtook Samsung as the leading buyer of foldable display panels, with an over 122% increase in comparison with the previous quarter. Several other Chinese OEMs launching foldable phones last year also catered to the increase in sales for BOE.
The trend seems not to last for long as Samsung Electronics is working to increase foldable panel purchases from Samsung SDI in Q2 2024.
Additionally, Samsung will launch the next foldable phones by the end of this year, including the Galaxy Z Fold 6 and Galaxy Z Flip 6. Apple is also working on a foldable smartphone, which could launch in 2026.
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