BOE, a famous Chinese electronics giant and display manufacturer, said that by 2024, the company aims to capture 40% of the flexible organic LED panel (OLED) market. The company announced its plans at a local exhibition in Sichuan Province, and also said that this year it owns about 20.3% of the flexible OLED panel market.
According to BOE, the total estimated value of the flexible OLED panel market is about $49.7 billion. According to TheElec, the company plans to actively strengthen its position in the segment.
The manufacturer mentioned that one third of the world production of these flexible OLED panels will be produced at its plants in Sichuan and Chongqing over the next three to five years. Although the company has not explicitly stated that it wants to outperform Samsung, the South Korean technology giant is also a major player in this market, so this intention is obvious.
Currently, BOE can produce about 144,000 substrates for its display panels every month when all three production lines are in operation. The company plans to produce more than 40 million flexible OLED displays by the end of this year, which is about a quarter of Samsung’s planned production volume by the end of the year.