In the global LCD panel industry, for a long time, core technologies and shipments were dominated by South Korean and Japanese manufacturers. This left the domestic color TV industry in a weak position, lacking control over the essential screen technology. Without any real voice in the market, Chinese TV manufacturers had no choice but to rely heavily on imported LCD panels, which significantly increased the cost of TVs in China before 2010.
However, this situation has changed dramatically in recent years. The domestic panel industry has experienced rapid growth, with companies like BOE and Huaxing Optoelectronics investing heavily in building new factories. The completion of several high-generation production lines has greatly improved large-screen manufacturing capabilities. It is expected that by 2019, mainland panel production would not only catch up but also surpass South Korea, becoming the largest in the world.
BOE, one of the leading domestic panel companies, released its Q3 2017 performance report, showing impressive results. The company's total revenue reached 69.4 billion yuan, a 51.41% increase from the same period last year. Its net profit soared to 6.48 billion yuan, more than 45 times higher than the previous year. These figures reflect the strong momentum of the domestic panel industry.
According to a recent report by IHS Markit, a global market research firm, BOE surpassed LG Electronics in terms of global shipment share, reaching 22.3%, making it the top display panel supplier worldwide. The top five panel suppliers now include BOE (22.3%), LG (21.6%), AU Optronics (16.4%), Innolux (15.7%), and Samsung Display (9.9%).
Currently, major domestic panel makers are emerging strongly. BOE has completed its 10.5-generation TFT-LCD line, which produces ultra-high-resolution panels larger than 65 inches. Meanwhile, Huaxing Optoelectronics, under the TCL Group, has officially started construction on its G11 project, a next-generation TFT-LCD and AMOLED production line. Other companies, such as Panda, Wikko, and Sharp Japan SDP, are also planning to build new facilities this year.
The display industry is currently booming, with many manufacturers investing in new factories. This growth is helping the domestic panel industry thrive, driving the entire supply chain forward and challenging the dominance of Japanese and South Korean manufacturers. The future looks bright for China’s display sector, as it continues to rise and take a more prominent place on the global stage.
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