BOE’s Shipments Of Large Size LCD Panels Surpass LG, Now First in The World

In the field of large size LCD panels for televisions, the shipment volume of Chinese electronic components producer BOE Technology Group jumped to first place for the first time, according to Nikkei’s report on its recent survey on the market share of major products and services.

The Nikkei survey shows that BOE’s market share of large size LCD panels was 22.9% in 2020, an increase of 2.2% over 2019, surpassing LG Display, which had previously ranked first. The share of LG Display fell to 17.2%, down 6.7% from 23.9% in 2019. In terms of shipments, BOE ranked first in 2017, and this time it ranked first in terms of amount.

In addition, the share of TCL, increased by 2.5% to 8.8%, rising to fifth place. The share of Korean companies declined, and Samsung, which ranked fifth in 2019, was also kicked out of the top five. This may be due to Korean enterprises’ shift of focus towards the production of OLED panels. Samsung, however, is committed to smart phone panels and LG Display is devoted to TV panels. In the field of OLED panels, Korean enterprises alone hold 86.7% of the total market.

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Large size LCD panel shipments increased by 21.4% in 2020 compared to that of 2019, turning up for the first time in 3 years due to expanding TV demand.

BOE earlier released its 2021 semi-annual report, which showed that it achieved revenue of 107.285 billion yuan ($16.603 billion) in the first half of 2021, an increase of 89.04% year-on-year. The firm achieved net profit attributable to the parent company of 12.762 billion yuan, a significant increase of 1023.96% year-on-year.