As far as the display panels are concerned, South Korea is currently the leading country since the two main display panel manufacturers, i.e., Samsung Display and LG Display, are based in the region. However, China is working on catching up with South Korea in terms of market share.
According to a recent report by Omdia, China’s display panel sales are expected to reach $42.5 billion this year, which accounts for around 36.3 percent market share. The report also predicts that the South Korean sales for display panels will top at $43.6 billion, which translates into around 37.3 percent of the market share.
Until last year, South Korea occupied around 40.1 percent of the market, with sales worth $44.1 billion. China, on the other hand, claimed 31 percent of the market with $34 billion sales. As per the report, South Korea’s market share will drop by 1.1 percent this year, while that of China will see an increase of 2.5 percent.
This is not the first time China has given South Korea a tough time in the tech industry. The same pattern was seen in the smartphone industry a few years back. With Samsung being one of the top smartphone manufacturers, South Korea claimed half of the smartphone industry. However, after Huawei and Xiaomi worked their way up to the top, South Korea lost a chunk of its market share to Chinese companies.
In other news, to boost its market value, China is planning to commence its 14th 5-year plan this year, which will focus on developing core materials and equipment on its own to improve the localized supply chain.
