Key Takeaway: On October 8th, market research firm CounterPoint Research released a report, projecting that OLED panel shipments will grow 1% year-on-year (YoY) in Q3 2025, with revenue expected to decline 2% YoY. Shipment growth in this quarter will be mainly concentrated in monitors and laptops.

On October 8th, CounterPoint Research released a report, projecting 1% YoY growth in OLED panel shipments and a 2% YoY decline in revenue for Q3 2025. Shipment growth in the quarter will be primarily driven by monitors and laptops.

The firm notes that global OLED panel revenue fell 5% YoY in Q2 2025. However, in Q3, supported by a 2% YoY increase in smartphone panel shipments and double-digit YoY growth in monitor and laptop shipments, the YoY decline in OLED panel revenue will narrow to 2%.

Overall, the firm believes that backed by a strong demand recovery and new OLED production capacity, total annual revenue of OLED panels will decline slightly in 2025, but a stronger revenue rebound will occur in 2026. Driven by smartphones, laptops, and monitors, global OLED panel shipments in 2025 are projected to grow approximately 2% YoY.

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Panel Makers’ Performance

Samsung Display

In Q2 2025, Samsung Display benefited from triple-digit quarter-on-quarter (QoQ) growth in laptop and smartwatch panels, as well as double-digit QoQ growth in TV panels. Its OLED panel shipment share rose to 35%, and revenue share reached 42%.

The firm projects that Samsung Display’s revenue share will hit 44% in Q3 2025 and 41% for the full year 2025—slightly lower than 42% in 2024.

LG Display

In Q2 2025, LG Display’s panel area share increased to 38%, while its revenue share dropped to 21%. This was mainly due to a double-digit QoQ decline in smartphone panel shipments, though double-digit growth in TV panels and single-digit growth in smartwatch panels partially offset the impact. It is projected that LG Display’s revenue share will be 22% in Q3 2025 and 21% for the full year—down from 23% in 2024.

BOE

For BOE, double-digit QoQ growth in smartphone and laptop panels was offset by a double-digit QoQ decline in smartwatch panels, leading to its OLED shipment share falling to 9% and revenue share to 15%.

The firm projects that BOE’s revenue share will remain at 12% in Q3 2025 and stabilize at 14% for the full year 2025, on par with 2024.

Tianma

In Q2 2025, Tianma’s OLED shipment share dropped to 5% and its revenue share fell to 6%. Although the company does not produce OLED TVs (which limits its revenue growth), its revenue still grew 8% QoQ supported by demand for smartphones and smartwatches.

It is projected that Tianma’s revenue share will reach 6% in Q3 2025 and 6% for the full year—up from 5% in 2024.