Samsung Display closed the second quarter of 2024 with positive results, reaching $5.5 billion in sales and $730 million in operating profit. The growth was mainly driven by the AMOLED mobile division, which benefited from the launch of new flagship smartphones by major customers, including Apple.
In addition to AMOLED panels for smartphones, Samsung Display (SDC) also saw sales growth in OLED panels for IT devices (tablets and laptops) and gaming monitor panels.
According to SDC, however, the demand for AMOLED panels for smartphones is expected to grow further thanks to the potential of artificial intelligence, which could stimulate the demand for replacement devices. However, Samsung Display emphasizes that competition in the display sector is increasing and it will be necessary to continue to innovate and develop new technologies to maintain leadership. It is no coincidence, therefore, that the Korean company has acquired patents for maskless OLEDs.
Overall TV market demand, on the other hand, increased year-on-year, with a quarter-on-quarter increase mainly driven by global sporting events. “Thanks to the differentiated launch of new TV models in 2024,” SDS said in the release, “the Visual Display division consolidated its leadership in the premium market by focusing on the sale of strategic products, such as Neo QLED, OLED and Lifestyle displays. However, profitability decreased year-on-year due to increased costs, driven by rising panel prices and intensifying market competition.”
In the second half of 2024, Samsung therefore expects the overall market demand to recover further thanks to the growing demand for QLED and OLED TVs, especially large-size ones.
