Samsung Display sees mixed performance amid industry shifts, with KRW29.2 trillion (US$19.99 billion) in sales during 2024, representing a dramatic decline from a decade ago. The company's operating income dropped from KRW5.57 trillion in 2023 to KRW3.7 trillion in 2024, reflecting intensifying competition from Chinese manufacturers.
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, 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 previous quarter, 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 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. The company is also 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 company aims to boost profitability by expanding its product range across premium and mass-market TV segments while optimizing operations. Samsung Display will also increase its presence in the super-large TV category. Additionally, 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.