Apple plans to make significant updates to its iPad Pro next year, including a new Miaoyong keyboard, the use of a new M3 chip, and a brighter and clearer display screen. According to analysis, the upgrade of iPad Pro will be Apple's first major update to the iPad since 2018.
It is understood that Apple is currently using Mini LED backlit LCD panels on its iPad Pro model, and switching to OLED may mean better contrast on the new tablet, which is also more energy-efficient. The new iPad Pro may even surpass the Samsung Galaxy Tab S9 Ultra and have a more energy-efficient display screen. Omdia, a market research firm, mentioned in a report that Apple aims to produce 10 million OLED versions of the iPad Pro by 2024.
Looking ahead, Apple will also use OLED on the iPad mini and iPad Air product lines, and at that time, Apple will end the application of LCD on the iPad product line. For this reason, Apple hopes to have more OLED panel suppliers to supply iPads. According to Omdia's prediction, the shipment volume of OLED tablets will increase from 3.9 million units in 2022 to 26.8 million units in 2028.
According to the research report of Zhongtai Securities, OLED is a new star in the trillion dollar panel market, and has become the third generation display technology with advantages such as self illumination, lightweight, bendable, and low power consumption. OLED display technology has been commercialized for less than 20 years, and its penetration rate is still rapidly increasing.
In the secondary market, as of Friday's close, Vicino, which focuses on OLED display products for high-end models from top customers, has recorded a limit up; Looking at the long term, TPV Technology, which owns multiple OLED displays, has achieved four limit up in the past six trading days.
From the perspective of shipment volume, according to the latest research by TrendForce Jibang Consulting, the estimated shipment volume of OLED displays this year is 508000 units, with an annual growth rate of 323%. It is expected to further promote the shipment of over one million OLED displays in 2024. From the perspective of revenue scale, Huatai Securities Zhuang Tingzhou Research Report pointed out that according to Omdia, the global OLED panel market size was about 43.3 billion US dollars in 22 years, and it is expected to reach 57.7 billion US dollars in 27 years, with a CAGR of about 5.9%.
According to research reports by Ren Lang and others from Kaiyuan Securities, the upstream of the OLED industry chain includes material manufacturing, equipment manufacturing, and assembly parts, while the midstream mainly focuses on panel manufacturing. The downstream includes various terminal applications, including smartphones, smart TVs, VR/AR, wearable electronic devices (such as smartwatches), computers, tablets, car displays, lighting, etc.
In terms of competitive landscape, Dongwu Securities, Ma Tianyi and others reported on April 18th that in 2022, Samsung and BOE's OLED production capacity were among the top in China, with market share of 36% and 21%, respectively. LG, Vicino, and Huaxing Optoelectronics followed closely, with market share of 8%, 7%, and 5%, respectively.
According to incomplete statistics from Cailian News Agency, listed companies with layout in the OLED field include TPV Technology, Vicino, BOE A, Tongxingda, Yitian Co., Ltd., Ruilian New Materials, Feikai Materials, and TCL Technology.