For a long time, the global LCD panel industry was dominated by South Korean and Japanese manufacturers, who controlled both the core technologies and the majority of shipments. This left the domestic color TV industry in a weak position, lacking control over the essential screen technology. Without any real say in the market, Chinese TV manufacturers had no choice but to rely heavily on imported LCD panels, which made the overall cost of TVs in China very high before 2010.
However, this situation has dramatically changed in recent years. The domestic panel industry has experienced rapid growth, with companies like BOE and Huaxing Optoelectronics investing heavily in new factory construction. With the completion of several advanced production lines, large-screen manufacturing capabilities have significantly improved. It is estimated that by 2019, mainland panel production would not only catch up but surpass South Korea, becoming the world’s largest supplier of LCD panels.
In the first three quarters of 2017, BOE released its performance report, showing impressive results. The company reported total operating revenue of 69.4 billion yuan, a 51.41% increase compared to the same period the previous year. More impressively, net profit reached 6.48 billion yuan, a staggering 45-fold increase from the previous year.
According to a recent global LCD panel report from IHS Markit, BOE surpassed LG Electronics, achieving a 22.3% global shipment share and becoming the top display panel company in the world. 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 making significant strides. BOE's 10.5-generation TFT-LCD line, built with a 40 billion yuan investment, is now fully operational, focusing on producing ultra-high-resolution panels larger than 65 inches. Meanwhile, Huaxing Optoelectronics under TCL Group has officially started construction on its G11 project, a next-generation TFT-LCD and AMOLED production line. Other companies, including Panda, Wikko, and Sharp Japan SDP, are also planning new facilities this year.
The display industry is currently booming, with many manufacturers investing in new factories. This surge is helping the domestic panel industry grow rapidly, strengthening the entire supply chain and enabling a strong counterattack against Japanese and Korean competitors.
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