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Korean firms' presence in large-size panel market to drop below 10 pct in 2021: report

All News 11:07 April 09, 2020

SEOUL, April 9 (Yonhap) -- South Korea's market share in the large-size panel industry is expected to fall rapidly as its major players, including Samsung Display Co. and LG Display Co., plan to exit the LCD manufacturing business amid a supply glut, a report showed Thursday.

In terms of large-size panel glass capacity by area, Korean display makers' market share is expected to drop from 28.4 percent in 2019 to 20.4 percent this year and may further decline to 9.7 percent in 2021, according to WitsView, a research division of industry tracker TrendForce.

This photo provided by Samsung Display Co. shows the company's plant in Asan, South Chungcheong Province. (PHOTO NOT FOR SALE) (Yonhap)

Its prediction came after Samsung Display last week announced that the company will halt the LCD production next year and speed up migration to its next-generation QD-display.

LG Display also revealed earlier this year that its factories in South Korea will no longer produce LCD TV panels next year.

South Korean displays makers have been trying to terminate the LCD business as a supply glut in the industry led by Chinese manufacturers has dragged down their profitability in recent years.

According to TrendForce, Samsung Display may shut down all of its LCD production lines, including its factory in Suzhou, China, by the fourth quarter of the year, while LG Display also plans to close its Gen 7.5 production lines in the same quarter.

With their exit from LCD production, Trendforce expected Chinese panel manufacturers to further expand their presence, with their combined market share increasing from 41.1 percent in 2019 to 57.8 percent in 2021.

kdon@yna.co.kr
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