2Q25 Small OLED Display Market Track

According to UBI Research’s “2Q25 Small OLED Display Market Track,” which includes performance and forecasts for applications such as smartphones, foldable phones, and smartwatches, small OLED panel shipments in the first quarter of 2025 reached 243 million units. This represents a decrease of 40 million units compared to the fourth quarter of 2024, which recorded 284 million units.

While this marks a 14.3% decrease quarter-on-quarter, it reflects a 10.7% increase year-on-year, making 1Q25 the highest first-quarter shipment volume on record for small OLED panels.

Breaking down the 1Q25 results, shipments from Samsung Display and LG Display both declined compared to the previous quarter. Among Chinese panel makers, Visionox recorded the steepest decline in shipments from 4Q24.

Despite a decrease in shipment volume, Samsung Display’s shipment share rose by 2.9 percentage points compared to 4Q24. Similarly, LG Display’s market share dropped from 13.1% to 9.3%, largely due to the seasonal concentration of Apple-bound panel production in the second half of the year. However, this still marks a 3.3 percentage point increase from the 6% share in 1Q24. LG Display’s shipments of panels for Apple continue to grow annually, and 2025 shipments are expected to exceed those of 2024 by over 10%.

Chinese panel makers showed a downward trend in shipments compared to 4Q24. However, their year-on-year growth remains strong when comparing 1Q23 and 1Q24 data. Notably, BOE is undergoing evaluation to gain approval for supplying panels for Apple’s iPhone 17 Pro. If BOE passes the certification, it is projected to ship approximately 50 million iPhone panels in 2025.

Han Chang Wook, Vice President at UBI Research, stated, “All iPhone 17 models are expected to adopt LTPO panels, which will drive up the average panel price. Although Korean panel makers saw a decline in shipments compared to the previous quarter, performance is expected to improve in the second half of the year with the full-scale production of Apple panels, potentially resulting in higher revenue than in 2024.”