Samsung Display Co. and LG Display Co., South Korea’s leading manufacturers of organic light-emitting diode (OLED) displays, have chosen vehicle-use displays as their future growth engines as their existing businesses for smartphones and TVs reach saturation.

According to industry sources on Monday, Samsung Display and LG Display are expected to unveil their latest technology and design trends and product roadmap such as automotive OLED products at the Korea Display Exhibition 2023, an event hosted by the Ministry of Trade, Industry and Energy between August 16 and 18.

The event is designed to present the latest market trends and promote information sharing among market players.

Samsung Display has announced its commitment to further ramp up its automotive OLED production. The company drew much attention at the Consumer Electronics Show 2023 by showcasing its latest display, New Digital Cockpit.

The New Digital Cockpit features a 34-inch display with bendable technology. The feature offers drivers the optimal viewing distance to enhance their focus while driving.

The company plans to attend the International Motor Show Germany 2023, one of the world’s largest mobility trade fairs, for the first time to expand its clientele base.

LG Display aims to solidify its market presence by unveiling its distinctive technology Tandem OLED.

Tandem OLED displays are made by stacking two organic light-emitting layers, a product that offers greater brightness and a longer lifespan compared with a single-layered OLED.

LG Display said its volume of orders for automotive displays surpassed 4 trillion won ($3.05 billion) in the second quarter of this year.

Vehicle-mounted displays are expected to serve a broader role beyond displaying screen images as electronic technology advances, particularly with the rise of electric vehicles (EVs) and autonomous driving.

They are projected to play a crucial part in controlling various automobile parts and managing interior and exterior equipment within the vehicles.

“An automobile has become a sum of electric devices as a result of constant advancements in EVs and autonomous vehicles,” said an unnamed source from the auto industry. “Korean manufacturers will likely see a surging demand for high-performance OLED panels.”

Some industry insiders, however, remain vigilant about China’s rapid ascent.

Korea accounted for 93 percent of the global automotive OLED market last year while China 7 percent.

China, however, has been making aggressive investments in OLED technology. Its market share has remarkably grown from zero percent in 2021 to 7 percent in just one year.

“China’s rapid advance in the sector suggests the need for Korean companies to make further investments,” the industry official said.

By Bang Young-duk and Han Yubin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]