IHS Markit says that the global OLED TV market is likely to grow to 2.54 million units sold this year, compared with just 300,000 in 2013. By 2022 the market size should expand to 9.35 million units, says the market research firm.
The increase in sales volume is reflected in how the high-end OLED units have fallen in price. As an example, South Korea’s electronics giant LG was selling its OLED units at more than $13,000 some 5 years ago. This year, a large-screen OLED from LG can be bought for less than $1800.
LG, which introduced its latest range on Aug 7th, but also spoke of discounts now available on its current 2018 range. As for the 2019 plans, LG says it will boost OLED output for TV displays by 40 percent, or around 4 million units.
LG, as well as selling its panels under its own brand also supplies panels to Sony and Panasonic.
Last month LG won permission to build a new fabrication plant for OLED production in China (in Guangzhou province), initially at a rate of 60,000 panels a month and building to 90,000 a month. Production should start to flow during the second-half of 2019.