Apple's new iPhone is slated to launch in the second half of 2024, sparking intense competition between the two major South Korean panel manufacturers for the iPhone's OLED market. Reports indicate that Samsung Display (SDC) and LG Display (LGD) are aggressively vying for OLED orders in the iPhone 16 series' two high-end models.
According to The Elec, SDC recently held its earnings call for the second quarter of 2024, projecting that competition among peers in the second half of 2024 will be fiercer than in the first half. The company expects the launch of major clients' new products and the demand for AI smartphone upgrades will drive revenue growth.
SDC's main smartphone customers for the second half of 2024 include Samsung Electronics, which will launch the foldable Galaxy Z6 series, and Apple, which will launch the iPhone 16 series. The OLED in Samsung's Galaxy Z6 series will be exclusively supplied by SDC. For Apple's iPhone 16 series, which comprises four models, the OLED for the two high-end models (Pro and Pro Max) will be jointly produced by SDC and LGD.
LGD held its earnings call for the second quarter of 2024 in late July, where it stated that the past two years represented the initial phase of its mobile OLED business development, during which there were still issues to address. However, starting in 2024, LGD is capable of mass-producing and delivering products consistently in line with client demands. The company hopes to achieve notable improvements in revenue and profits in 2024.
In 2023, SDC shipped approximately 150 to 160 million OLED panels for iPhones, including those for the iPhone 15 series and other older models. As for LGD, it shipped 52 million panels.
With LGD having obtained the OLED certification from Apple for the iPhone 16 series in time, the South Korean industry estimates that LGD's OLED shipments for iPhones could increase by about 10 million panels in 2024. SDC, on the other hand, will supply OLED panels for all four models of the iPhone 16 series.
