China’s display industry will have level market share with South Korea this year, according to Omdia.
China’s panel sales will reach US$42.5 billion this year with a market share of 36.3%%, the research firm said.
South Korea, meanwhile, is expected to post sales of US$43.6 billion this year for a market share of 37.3%.
Last year, South Korea controlled a market share of 40.1% with sales of US$44.1 billion, while China had 31% with sales of US$34 billion.
South Korea’s sales this year will drop 1.1% from 2019 but China’s will increase by 25%.
Half of South Korea’s 2019 sales in display panels came from OLED. South Korea had a market share of 88.4% in OLED while China only had 10.1%.
China has been ahead of South Korea in LCD since two years ago.
China will start its 14th 5-year plan this year that will last until 2024. It is planning to develop core materials and equipment on its own to develop its own, localized supply chain.