The second quarter of 2024 marked a significant milestone in the foldable OLED market, with shipments reaching an unprecedented 9.9 million units. According to UBI Research’s “3Q24 Small OLED Display Market Track,” this figure more than doubled from Q1, setting a new record for the industry.
Rising Demand for Foldable OLED Displays
In Q2 2024, foldable OLED shipments accounted for 5.2% of all OLED shipments for smartphones, indicating a strong consumer demand for foldable technology. This increase also represents the second-highest proportion of OLED shipments for foldable phones recorded to date. The surge highlights the growing popularity of foldable smartphones as consumers seek more innovative and versatile devices.
Future Growth Projections
UBI Research forecasts continued growth in foldable OLED shipments throughout the latter half of 2024, with expectations to surpass 40 million units by year-end. Looking further ahead, by 2028, foldable OLEDs are anticipated to constitute 9.9% of total OLED shipments for smartphones, reflecting a significant shift in the smartphone display market.
Economic Impact and Sales Share Expansion
While foldable OLEDs represented a 5% share of total OLED shipments in Q2 2024, their sales share was notably higher at 16.3%. This share is projected to expand to 27.5% by 2028, underscoring the economic impact of foldable technologies in the smartphone industry.
The impressive growth in foldable OLED shipments signals a transformative period for smartphone displays, with foldable technology set to play a pivotal role in the industry’s future. As more manufacturers adopt foldable displays and consumers increasingly embrace their flexibility and functionality, the foldable OLED market is poised for robust expansion.
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