According to the latest Samsung Display financial results for 2024, the panel provider registered sales of KRW29.2 trillion (US$19.99 billion), marking only the second time since 2016 that its revenue dipped below KRW30 trillion, reflecting intensifying competition from Chinese manufacturers and declining demand for panels from both smartphones and IT products.
Samsung Display's operating income (including inter-segments) reached KRW3.7 trillion, up from KRW2.22 trillion in 2016 but down from the peaks in 2017 and 2022 when the company reported operating profits exceeding KRW5 trillion.
Mixed results in 4Q24 as OLED adoption expands
Samsung Display experienced declining mobile display profits in the fourth quarter of 2024 due to weakening smartphone demand and heightened competition. However, in its earnings call in late January, the company saw encouraging growth in its IT and automotive display segments, with both achieving double-digit sales increases. The large display division also reported strong performance, with double-digit revenue growth compared to the third quarter of 2024, buoyed by robust year-end TV demand and enhanced productivity.
Low-power OLED development accelerates amid smartphone slowdown
Despite smartphone market stagnation, Samsung Display anticipates continued OLED panel adoption growth, driven by increasing artificial intelligence functionality and demand for energy-efficient displays. The company showcased these trends at the 2025 Consumer Electronics Show, emphasizing the growing importance of power-efficient displays and innovative form factors.
To address evolving market needs, Samsung Display is advancing its low-power consumption technology through improvements in backplane materials and electronics, while expanding its energy-efficient panel designs across more products. Additionally, the company is enhancing product durability and flatness to differentiate its offerings in the competitive landscape.
Strategic focus on AI-powered innovation for 2025
Looking ahead, Samsung Display plans to strengthen its market position through enhanced product differentiation and operational efficiency, despite challenging market conditions. The company will pioneer artificial intelligence screen technology with Vision AI, utilizing its next-generation processor to enhance picture and sound quality while improving the user experience of AI-enabled televisions.
The display maker aims to boost profitability by expanding its product range across premium and mass-market TV segments while optimizing operations. Furthermore, Samsung Display will also increase its presence in the super-large TV category. The company plans to enhance its service business by growing advertising revenue and expanding content on TV Plus, its free ad-supported streaming platform. In a move to reinforce its leadership in lifestyle televisions, Samsung is launching The Frame with Neo QLED picture quality and wireless connectivity features to meet diverse consumer preferences.
(Editor's Note: The article misstated the revenue figures. Corrections have been made throughout, including in the headline. We apologize for the error.)