By 2020, Chinese technology maker BOO accounted for the majority of the LCD panel market for smart TVs, surpassing LG Tone and become a leader in the segment for the first time, according to a study by the British research firm Omdia.
This leadership is expected to expand: BOO reached maximum production capacity for this type of screen in the first quarter of this year. However, this is not the BOEs first win in the technology industry; the company also surpassed giant Samsung in smartphone screen production in 2020.
The research showed that BOEs The LCD market share was 22.9% in 2020, an increase of 2.2% from 2019 data. LG Display, which used to lead the segment, recorded a 17.2% dominance in 2020, down a whopping 6.7% from 23.9% in 2019.
Third in the top three largest manufacturers of LCD displays was acquired by the Taiwanese company AU Optronics, which controls 11.9% of the market.
Cumulatively, these three brands accounted for 52% of the total LCD screen market in 2020. Besides BOO, however, there is one more Chinese company in the top five of the list: TCL, with a revenue increase of 2.5% for the year. past and dominated 8.8% of the market, replacing Samsung in fifth place.
It is also worth noting that, according to a survey conducted by the research firm CINNO Research, the sale of LCD panels for TVs reached 130 million units in the first half of 2021.
This is a growth of 2.5% compared to the same period in 2020. The LCD screen market is likely to set a new record and Chinese manufacturers will be largely responsible.