SEOUL, June 30 (Yonhap) -- Samsung Display Co., a major display panel maker in South Korea, dominated the global smartphone panel market in the first quarter of the year, a report showed Tuesday.
Samsung Display, an affiliate of top smartphone maker Samsung Electronics Co., grabbed a 52 percent share in the global smartphone display panel market in terms of revenue in the first three months of 2020, according to a report from market researcher Strategy Analytics.
China's BOE Technology Group Co. came in second with 14.3 percent followed by Tianma Microelectronics Co. with 8.2 percent.
"Samsung Display maintained its position in the smartphone display category through its large panel production scale and high panel yield," Strategy Analytics said. "Samsung Display grabbed major design wins for its flexible OLED panels with major smartphone OEMs that aided in its first-quarter revenues."
According to the report, the global smartphone display panel market recorded US$8.9 billion in revenue in the January-March period, up 3 percent from a year earlier. However, its growth was projected to slow down due to the COVID-19 pandemic down the road.
"In the first quarter of 2020, the display panel market for smartphones continued to see demand for OLED panels that drove the overall display market revenues," it said.
"We expect the display panel market to continue to observe a slowdown in smartphone panel demand due to disruptions in supply chains of customers, along with a strong decline in demand for end-market products owing to the COVID-19 pandemic."
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