BOE Q1 Smart Panels Rank #3 Globally

Boe Ranks Third Globally in Smart Panels Sector

Against the backdrop of the gradual global economic recovery, the competition in the smartphone market is intensifying. According to statistics from CINNO Research, in the first quarter of 2024, the global shipment volume of AMOLED smartphone panels reached approximately 190 million units, with a year-on-year growth of 44.6%, indicating a sustained high demand. Particularly noteworthy is the rise of domestic panels in all segments of the global smartphone market, with the overall shipment share surpassing half.

Boe (002387.SZ), maintaining a growth momentum for 23 years, achieved a remarkable 232.4% year-on-year growth in the first quarter, claiming a market share of 11.6%. This positioned them as the third globally and second domestically. Boe’s utilization rates are at the upstream level within the industry, with all production lines maintaining high operation levels.

The mid-sized AMOLED display market is rapidly expanding, focusing on global AMOLED automotive displays, with the scale gradually increasing and the penetration rate of AMOLED smart cabins continuously rising. It is predicted that by 2028, the global automotive display market will reach a total of 245 million units, with a compound annual growth rate of 4%.

While solidifying their position in the smart panel market, Boe is actively expanding into the mid-sized AMOLED automotive display sector. Through a series of innovative applications releases, they are accelerating the development of this specialized market segment.

At the Boe High-quality Development Innovation Conference and Global Partners Meeting held in Hefei on April 18th, Boe showcased several breakthroughs in the mid-sized automotive display application field. This includes the 14.2-inch flexible AMOLED sliding automotive central control solution, which ingeniously combines the flexibility and sliding characteristics of AMOLED, bringing unprecedented operational flexibility and visual experience to smart cabins. In addition, Boe also introduced the AMOLED curved floating display solution and transparent display solution, further enhancing the development of mid-sized AMOLED automotive displays.

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