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The value of global LCD panel output is expected to grow 25% on year to hit a record high of US$150 billion in 2021, driven by high capacity utilization rates at makers and rising panel prices, according to data from CINNO Research.
In 2020, combined revenues of China-based panel makers hiked 18% on year to US$38.9 billion, and their share of global sales edged up 3pp to 32%.
The sales ratios of LCD makers in Korea and Japan dropped 2pp each to 39% and 13%, respectively, in 2020, while those of Taiwanese makers edged down 1pp to 16%, the same data showed.
China-based BOE Technology garnered an operating profit of US$900 million in 2020, a 13.6-fold increase from a year earlier, with the number of its profits trailing only Samsung Electronics.
China Star Optoelectronics Technology (CSTO) generated a profit of US$400 million in 2020, increasing 181.8% from a year earlier.
Combined panel revenues generated by China-based panel makers are likely to reach US$60 billion in 2021, accounting for 40% of global shipments, CINNO Research estimates.