Korea’s display manufacturers anticipate higher demand of OLED displays27. May 2021
Due to the auto industry’s shift to electric and self-driving vehicles, OLED displays are also increasingly being installed in models. Korea’s two largest display manufacturers, LG Display Co. and Samsung Display Co. could benefit from this. The value of global vehicle OLED production will expand from $49.72 million last year to $263.5 million in 2022. It is expected to reach as high as US$671.7 million by 2026. That’s according to an estimate by market watchers Omdia.
Screens in vehicles have recently become an important equipment feature, and although LCD displays continue to be predominantly used, demand from high-resolution large OLEDs has been on the rise. Premium manufacturers in particular are using OLED screens in their luxury vehicles to differentiate themselves from their competitors. LG Display has been producing so-called plastic P-OLEDs for use in vehicles since 2019, and the company’s market share is 92.5 percent in terms of total sales of the OLED automotive supplier market last year. In a distant second place is Samsung Display with only 6.9 percent. According to a company spokesperson, LG has a technology lead in this area and is now expanding its OLED offerings for the automotive industry.
Mercedes-Benz, among others, is one of LG’s customers and was already eagerly awaiting the market maturity of large OLED screens. The German automaker is unveiling the seventh generation of its S-Class sedan with LG screen technology this year, and the new EQS electric vehicle also has LG’s P-OLED display installed. Cadillac’s latest version of the Escalade SUV is equipped with an infotainment system that uses an LG 38-inch P-OLED display. Back in 2016, EV giant Tesla announced the introduction of LG OLED screens in its vehicles. To import or sell electronics in South Korea, they are subject to KC certification (also known as KC Mark). The KC-Mark or KC certificate is roughly equivalent to the European CE mark and applies to 730 different products. KC certification, or Korea Certification, is primarily about identifying and containing a potential risk to consumer health and safety. We will be pleased to provide you with non-binding advice regarding Korea Certification and would be delighted to carry it out for you.
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