Chinese Mainland Screen Makers Surpass 50% Global Revenue for First Time

For the first time ever, mainland Chinese companies accounted for more than half of the global display panel industry’s revenue during the first half of the year, according to a recent report.

Chinese panel manufacturers from the mainland generated a combined revenue of $29.3 billion in the six months ending June 30, representing a 7 percent increase from the same period last year. Their share of the global market rose to 52.1 percent from 48.8 percent, according to market research and consulting firm Cinno Research.

Panel makers based in Taiwan increased their revenues by 4.4 percent, capturing 13.2 percent of the market, up from 12.6 percent previously.

Leading the industry, BOE Technology Group experienced an 8.5 percent revenue increase to 101.3 billion yuan ($14.2 billion), positioning the Beijing-based firm among the top-tier companies alongside South Korea’s Samsung Display and LG Display.

TCL China Star Optoelectronics Technology, which secured a position in the second tier, reported revenues of 50.4 billion yuan ($7.1 billion), reflecting a 14 percent growth. Mainland companies Tianma Microelectronics and HKC, along with Taiwanese firms AU Optronics and Innolux, all ranked in the third tier, each posting revenues exceeding $2 billion.

Revenue at South Korean panel manufacturers declined by 9.5 percent, reducing their market share to 30 percent from 33.2 percent. Japanese companies experienced a 17 percent drop in earnings, with their market share shrinking to 3.5 percent from 4.2 percent.

Samsung Display continues to lead in profitability, but its dominance over TCL CSOT and BOE has diminished. In fact, profits in the first half of the year for these three companies are estimated to be around $600 million each, essentially placing them in the same tier.

Meanwhile, LG Display of South Korea reduced its losses to $60 million from $425 million after divesting its LCD panel factory in Guangzhou, China, and focusing on its organic light-emitting diode (OLED) business.

Looking ahead to the second half of the year, Cinno Research anticipates structural growth in the mainland display panel market. This growth is driven by increasing demand for larger screens and rising shipments of higher-value products such as Mini LED, OLED, and AI-enhanced display technologies.