Electronic Components Firm BOE Tops Global Market Share in Five Major Fields

Electronic components producer BOE on Thursday released a speech by chairman Chen Yanshun regarding the company’s 2021 annual report. Chen said that BOE’s annual revenue in 2021 reached 219.31 billion yuan ($34.5 billion), up 61.79% year-on-year, while its net profit attributable to shareholders reached 25.831 billion yuan, up 412.96% year-on-year.

In terms of the company’s major business, Chen said that BOE’s market share in five major fields, such as mobile phones, tablets, notebooks, monitors and televisions, continued to rank first in the world. In December last year, it successfully shipped tens of millions of flexible AMOLED products, breaking a record. At the same time, its Internet of Things business continued to make breakthroughs, with annual revenue exceeding 28.379 billion yuan.

Moreover, BOE invested 12.436 billion yuan in R&D in 2021, submitting a total of over 70,000 independent patent applications. Among the new patent applications in 2021, over 90% were invention patents and over 35% were overseas patents.

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It is worth mentioning that BOE has put forward what it refers to as a “1+4+N” development framework. Among them, “1” is the platform with the business capabilities and resources of display devices, which is the source of BOE’s transformation and development. “4” is the four main business lines, including Internet of Things, sensors, MLED and smart medical treatment. “N” is detailed application scenarios of the Internet of Things that are constantly cultivated by BOE.