BOE, TCL, and Visionox Unveil OLED Panels with 3000+ Nits Brightness

Three Chinese display manufacturers, namely BOE, Tianma, and Visionox, have disclosed their preliminary financial results for the first half of 2023. Despite encountering a sluggish economy and reduced demand for displays overall, there is a notable surge in demand for OLED technology.

Upcoming OLED Panels from BOE, TCL, and Visionox

Starting with BOE, the company anticipates achieving an operating profit ranging from 700-800 million Yuan ($97-110 million USD) in the first half of 2023, marking a substantial decrease of approximately 90% compared to the previous year. BOE has observed a gradual uptick in demand as the year has progressed.

Regarding its OLED sector, BOE notes that while smartphone shipments remain modest, the adoption of OLED displays within the smartphone industry is on the rise. BOE proudly announces it has shipped over 50 million AMOLED displays in the first half of 2023, setting a company record and representing nearly an 80% increase compared to 2022. The profitability of BOE’s AMOLED business is improving, though it faces significant price competition.

Meanwhile, Tianma, a Chinese display manufacturer, is forecasting a loss of approximately 1.4 billion yuan (almost $200 million USD), a sharp contrast to the profit of 371 million yuan (about $52 million) reported in the first half of 2022. Tianma, too, cites a sluggish economic environment and diminished demand for displays.

Remarkably, Tianma’s OLED division is thriving during this period. Shipments of its flexible AMOLED panels have surged by over 400% compared to 2022, thanks to new smartphone customer acquisitions. Nonetheless, Tianma acknowledges that profit margins in its OLED business are under pressure due to ongoing price competition, mirroring BOE’s experience.

Lastly, Visionox, a specialized AMOLED display manufacturer, projects its revenues in Q2 2023 to reach 1.6-1.9 billion yuan ($220-$260 million USD), reflecting an impressive increase of 115-150% from Q1 2023. However, for the entire first half of the year, Visionox anticipates a net loss of around 1.6-1.8 billion yuan ($220-$250 million USD), a larger deficit compared to the same period last year.

Similar to BOE and Tianma, Visionox reports a surge in OLED production alongside declining market prices. To address this challenge, Visionox has adjusted its product strategy, focusing on high-end OLED display products for its key customers.