South Korea’s LG Display supplied to the most displays for motor vehicles around the world in the first quarter, suggesting automotive panel as its new growth engine.
While global shipment of auto displays fell 10.0 percent on year to 36,293,000 units in the January-March period, LG Display was able to bump up shipment by 32.5 percent to 6.08 million units to take up a 16.8 percent global share, according to data from market researcher IHS Markit.
LG Display edged out Japan Display (JDI) whose market share stood at 16.0 percent with a shipment of 5.8 million units.
JDI had maintained a comfortable lead of 18.2 percent versus LG’s 11.4 percent until the first quarter of 2018. The gap was narrowed later on the year.
The rest in the ranking were China’s Tianma (5.14 million units, 14.2 percent), Taiwan’s AUO (4.75 million units (13.1 percent) and Innolux (4.14 million units, 11.4 percent).
Moreover, LG sold more profitable products. In terms of sales value, LG Display took the lion’s share with $413.8 million during the cited period, up 34 percent from a year ago and overwhelming JDI’s $280 million.
LG Display has increased shipment to Korean and global finished car manufacturers by developing advanced auto display technology such as In-Plane Switching and in-TOUCH. It also applied the industry’s first inflammability certification to all auto displays to enhance safety, which contributing to the increased demand in the sector.
By Hwang Soon-min and Minu Kim
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]