LG Display rules world's smartwatch panel market in Q1
SEOUL, May 11 (Yonhap) -- LG Display Co., South Korea's top flat panel maker, took up 90.9 percent of the world's smartwatch panel market in terms of revenue in the first quarter of 2015, data showed Monday.
LG Display accounted for US$186 million of the global smartwatch panel shipment worth $204 million in the January-March period, the data compiled by industry tracker DisplaySearch showed. Another South Korean flat panel maker, Samsung Display Co., followed with $6.3 million, or 3.1 percent of the total.
Japan Display Inc. and Futaba Corp. took up 2.4 percent and 1.8 percent of the market over the cited period with $4.8 million and $3.7 million, respectively, the data showed.
LG Display was also the dominant player in terms of shipment volume by selling 8 million units over the cited period, taking up 66.8 percent of the market. It marked a sevenfold growth from 1.1 million posted in the fourth quarter of 2014.
Industry watchers said LG's robust performances came as the company is one of the two tech players that are capable of producing plastic organic light-emitting diode (P-OLED) displays, which is adopted by most of the smartwatches being sold in the market. The other firm is Samsung Display.
LG Display is the exclusive provider of P-OLED panels to U.S. Apple Inc.'s first smartwatch: the Apple Watch. The LG Watch Urbane, launched in March, also adopts the P-OLED displays.
Samsung Display, meanwhile, is set to emerge as a threat to LG's dominance in the near future, as its affiliate Samsung Electronics Co. is preparing to launch its first circular smartwatch. The company is also set to become a co-provider of panels to Apple's next smartwatch, eating into LG's share, industry watchers added.