China’s display market was worth 446 billion yuan in 2020, according to local media FDDisplay.
This was a 19.7% year-on-year growth, according to the report, and equals 40.3% of worldwide market share.
As of the end of 2020, there was in total 35 display panel lines (of over Gen 6 substrates), the report cited an official from Ministry of Industry and Information Technology as saying.
Gen 6 panel lines are usually used for small- to mid-sized panels used in mobile devices such as smartphones.
BOE’s sales grew 16% from 2019 to 135.6 billion yuan in 2020, the report said. The company recorded 5 billion yuan in net income, a 162% increase from the same time period a year ago.
Chinese panel makers are seeing sales surge from the high demand and price hike for liquid crystal display (LCD) panels.
BOE’s sales of 2020 is around 1 trillion won less than those of LG Display, which recorded 24.23 trillion won in sales last year.
It is highly likely that BOE could overtake LG Display in sales this year.
Samsung Display, meanwhile, recorded 30.59 trillion won in sales last year.
The Chinese display industry being reorganized by a handful of leading companies such as BOE and CSOT that are acquiring smaller firms.
BOE acquired CEC Panda and CSOT to purchased Samsung Display’s factory in Suzhou recently.
BOE now has five Gen 8.5 lines, one Gen 8.6 line and two Gen 10.5 lines. CSOT meanwhile now has three Gen 8.5 lines and two Gen 11 lines.