According to a market analysis performed by UBI Research (via Display Daily), the overall OLED market is expected to grow by around 13.8 percent this year, to reach $32.2 billion in annual revenue.
This expected growth is going to largely be driven by the slow rollout of flexible OLED panels in smartphones, TVs, and other products. We anticipate learning more about the foldable smartphone from Samsung next week, which is expected to usher in a new smartphone trend.
With more and more OLED panels getting made and sold, we can also expect two things to happen: the cost of OLED panels will go down and more smartphones will use those cheaper OLED panels.
With most smartphones, there are mainly two choices for display technology: LCD and OLED. LCD panels are cheaper and more power-efficient but don’t produce the same crisp blacks and high-contrast images as OLED panels can deliver. Since OLED displays cost more, they tend to get used only in higher-end smartphones like the Samsung Galaxy S and Galaxy Note series, the Google Pixel 3, the Huawei Mate 20 Pro, etc.
With OLED revenue increasing we can expect some smartphone lines that currently stray away from the technology to possibly adopt it this year or the next. This could include phones like the next iteration of the Pocophone, the Razer Phone 3, and future Nokia-branded smartphones.