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Although Samsung Electronics is widely known for its OLED panels, the company shipped more LCD smartphones than the OLED models in 2021. According to a report from Omdia, the Korean tech giant shipped around 135.8 million units of LCD smartphones and 135.1 million OLED smartphones in 2021. Samsung saw an impressive 41% shipment growth for its LCD smartphones, while the OLED smartphones saw a decline of 15%.
As we know, the LCD panels are cheaper compared to OLED, and with all the component shortages, analysts believe that Samsung adopted a cost-cutting strategy to cope with expected smartphone price hikes.
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The strategy worked perfectly for Samsung as their profitability increased by ramping up LCD smartphones shipment. Compared to 2020, the company’s LCD smartphone sales went up by 740% to reach about 4.23 trillion won (around 3.4 billion USD) in 2021. On the other hand, sales of OLED smartphones declined 3.9% compared to 2020. Sales of OLED smartphones amounted to about 10.13 billion won (around 8.18 million USD) in 2021.
Samsung has been a major figure in driving the growth of the OLED smartphone market since 2010. Yet, the company scaled up LCD smartphone shipments in 2021, adopting a cost-cutting strategy to cope with expected smartphone price hikes due to component shortages. Analysts further believe that despite the popularity of OLED technology in recent years, the OLED smartphone market will slow down in 2022.
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Source: Business Korea
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