[Edaily Reporter JAEMIN SONG ] While the global market for organic light-emitting diode (OLED) panels for smartphones is projected to contract this year, the foldable OLED market is expected to continue its double-digit growth. Although the overall market is shrinking due to slowing smartphone demand and rising production costs, demand is expanding, particularly for premium products, which is likely to open up new growth opportunities for Samsung Display and LG Display.

According to market research firm Counterpoint Research on the 10th, global smartphone OLED panel shipments are projected to decline by approximately 3% year-over-year. Analysts attribute this to memory chip supply shortages and rising production costs, which have increased cost burdens for smartphone manufacturers and consequently impacted panel demand. OLED panel revenue is also expected to fall by more than 5% compared to last year due to declining shipments and downward pressure on prices.

By product type, shipments of rigid OLEDs, which use glass substrates, are projected to decline by 24%, while flexible OLEDs are expected to drop by 3%. In contrast, foldable and rollable OLEDs are forecast to grow by more than 23%, showing the highest growth rate. Even as the overall market contracts, demand appears to be expanding, driven primarily by new form factors and premium smartphones.

These changes are expected to influence the business strategies of domestic display manufacturers. Samsung Display is projected to maintain its leading position in the global smartphone OLED panel market this year as well. In particular, the expansion of the foldable OLED market is cited as a favorable factor for Samsung Display, which has secured the relevant technology and mass production experience.

LG Display is also expected to strengthen its market position by expanding business with major smartphone manufacturers, including Apple. Counterpoint Research predicted that China’s BOE will also seek to expand its market share by increasing business with clients such as Apple. As competition among Chinese companies intensifies, it has become increasingly important for Korean companies to secure competitiveness by focusing on high-value-added products.

Low-power technology is also emerging as a new competitive factor. The share of panels using low-temperature polycrystalline oxide (LTPO) technology in this year’s flexible OLED shipments is expected to exceed 50%. Samsung Display unveiled “LEAD 2.0,” which combines technology that eliminates polarizing films to improve light efficiency with privacy protection features. Chinese companies BOE and Tianma are also accelerating the technology race by unveiling OLED technologies that reduce power consumption by 15–20% or more.

Nikhil Kishore, a principal analyst at Counterpoint Research, said, “Although the smartphone display market is entering a mature phase, foldable OLEDs will remain a key growth driver as more brands adopt new form factors and expand their premium product lines.”