Strategy Analytics said Samsung Display is the leader in the smartphone display panel market with 50 percent revenue share in 2020.

BOE Technology is the second largest player in the smartphone display panel market with 15 percent share.

LG Display with 8 percent is the third largest supplier of the smartphone display panels.

The smartphone display panel market revenue increased 7 percent to $43 billion in 2020, according to Strategy Analytics.

The growth in the display panel business was driven by the expansion of OLED display technology in the supply chain of key smartphone vendors, leading to increased shipment of OLED panels to customers.

“Strong demand and 5G momentum led to the growth of the display panel market for smartphones. New device launches based on Flexible OLED and Rigid OLED display panel aided in the revenue growth of the smartphone OLED panel segment in 2020,” Jeffrey Mathews, senior analyst at Strategy Analytics, said.

Samsung Display achieved record smartphone panel revenue due to the strong design wins across key devices. As OLED demand increases, Samsung Display faces increased competition from LG Display, BOE Technology, Visionox and TCL CSOT.

The display panel procurement by smartphone OEMs will be steady through 2021, driven by 5G and high-end display technologies. LCD displays will fall behind in share to OLED displays in the smartphone display panel market.