LG Display is one of the most popular suppliers of OLED panels in the world right behind Samsung Display. The company has built quite a reputation supplying large-sized OLED displays. However, new reports have revealed that the company is expected to ship only 3.6 million units of those in 2020 as a result of the COVID-19 pandemic. This new estimation is much less than the 4.9 million unit estimation that was made at the start of the year; 1.3 million less to be precise.
The news was revealed by the CEO of UBI Research, Choong Hoon Yi, at a conference (via The Elec) yesterday. According to Choon Hoon Yi, LG Display will be shipping a lesser amount of large-sized OLED panels compared to the estimation that was made earlier.
Even the latest estimation was made assuming that the global TV market will recover. If LG Display is unable to operate its facility in Guangzhou, China normally, we may see this number go even further down to 3.2 million units.
For comparison, in 2019, LG Display made a total of 3.3 million large-sized OLED panels shipments. Prior to the COVID-19 pandemic, the South Korean analysts made an estimation of as much as 6 million units of shipments in 2020.
Apart from Samsung and TCL, there are a total of 19 other companies that are expected to launch OLED TVs in 2020. However, there has been a relatively low demand for OLED panels so far this year. 60% of that demand was accounted for by LG. Sony was next up with 20% while the other 17 companies accounted for the rest.