2024年第二季度，主流国产品牌柔性OLED智能机面板中，京东方(000725.SZ)份额达28.1%，排名第一，同比下降3.1个百分点，环比下降1.4个百分点；华星以26.7%的份额排名第二，同比上升12.2个百分点，环比上升1.7个百分点，份额增长最大；天马和维信诺(002387.SZ)份额分别为23.8%和19.6%；三星份额降至仅剩1.8%，同比下降4.2个百分点，主流国产品牌柔性OLED国产化率已增至98.2%。According to statistics from CINNO Research, as domestic flexible OLED production capacity continues to be released and gradually penetrates into the low-end product market, the global flexible OLED panel shipment volume continues to expand.
jingwei finance APP learned that according to statistics from CINNO Research, as domestic flexible OLED production capacity continues to be released and gradually penetrates into the low-end product market, the global flexible OLED panel shipment volume continues to expand. In the second quarter of 2024, the global market shipped approximately 0.16 billion pieces of flexible OLED (including foldable) smartphone panels, a significant year-on-year increase of 39.9%, a quarter-on-quarter growth of 17.5%, both year-on-year and quarter-on-quarter growth, accounting for 72.2% of OLED smartphone panels, a year-on-year decrease of 7.9 percentage points, an increase of 2.7 percentage points quarter-on-quarter.
In recent years, apart from Apple (AAPL.US) and Samsung, mainstream Chinese brands such as Huawei, OPPO, vivo, and others have continuously shifted their flexible OLED panel orders from Samsung Display to domestic manufacturers. The shipment volume of domestic flexible OLED smartphone panels is approximately 94 million pieces, a significant year-on-year increase of 79.0%, a quarter-on-quarter growth of 4.7%, accounting for 58.9%, surpassing half, a year-on-year increase of 12.9 percentage points. Domestic flexible OLED panels have surpassed Korean brands.
In the second quarter of 2024, among mainstream Chinese brands' flexible OLED smartphone panels, BOE (000725.SZ) captured a 28.1% share, ranking first, with a year-on-year decrease of 3.1 percentage points and a quarter-on-quarter decrease of 1.4 percentage points; CSOT ranked second with a 26.7% share, a year-on-year increase of 12.2 percentage points and a quarter-on-quarter increase of 1.7 percentage points, showing the largest share growth; TianMa and Visionox Technology Inc. (002387.SZ) accounted for 23.8% and 19.6% respectively; Samsung's share plummeted to only 1.8%, a year-on-year decrease of 4.2 percentage points. The domestication rate of mainstream Chinese brands' flexible OLED panels has increased to 98.2%.
As one of the mainstream manufacturers of domestic mobile phone brands, Huawei's focus is mainly on the high-end market, with some acceleration in the mid-range market, while the low-end market has not really started yet. The high-end market mainly consists of high-end flagship models and foldable products, with JD.com still being the key partner in this segment.
Data Source: CINNO Quarterly Mobile Phone Panel Value Chain Report
In the second half of 2023, Huawei made a strong comeback with the Mate60 series, warmly welcomed by consumers. Its sales performed strongly in the Chinese market, even in the case of insufficient supply, driving rapid growth of Huawei's market share in the Chinese smart phone market, especially in the high-end smart phone market above 5000 yuan. In Q4 '23, Huawei's share increased to 29.0%, a significant year-on-year increase of 20.5 percentage points, while this proportion plummeted to a low point of only 10.5% for the full year of 2022.
Looking at the structure of Huawei's flexible OLED phone panel suppliers, in the second quarter of 2024, BOE's shipment share of Huawei's flexible OLED phone panel was 48.1%, a year-on-year decrease of 3.1 percentage points and a quarter-on-quarter decrease of 3.3 percentage points. Although both year-on-year and quarter-on-quarter declined, BOE remains the primary supplier for Huawei's flexible OLED. Visionox accounted for 31.3%, ranking second, with a year-on-year decrease of 10.1 percentage points and a quarter-on-quarter decrease of 2.5 percentage points. Huaxing accounted for 20.6%, with a year-on-year increase of 15.3 percentage points and a quarter-on-quarter increase of 5.8 percentage points. Huaxing started supplying Huawei's nova series phones in Q3 '23, growing rapidly among Huawei's flexible OLED phone panel suppliers.
Looking at the changes in the structure of Huawei's flexible OLED phone panel suppliers in recent years, on the one hand, Huawei has completely achieved 100% domestic production of panels. On the other hand, Huawei is continuously optimizing its supplier structure, tending towards maintaining a diversified supplier system. This not only ensures product quality but also reduces the risks associated with problems from a single supplier.
