The most popular foldable mobile phone, the domest

2022-08-06
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Under the folding tuyere, the domestic screen is about to turn over

2019 MWC (World Mobile Communication Conference) has more hot spots than in previous years. This year, 5g, folding screen and video camera have replaced the limelight of last year's comprehensive screen and become a new hot topic in the industry

the folding screen has the highest heat. As early as the second half of 2018, a Chinese company named Ruoyu Technology launched the world's first folding screen. Two days before the WMC exhibition, Samsung announced that it also had a folding Galaxy fold. At the MWC conference, Huawei launched the world's first 5g folding meat x, which pushed the folding screen to a high tide. Since then, oppo, Yijia, Nubia and other manufacturers have indicated that they will launch folding screens to keep their concept warm

the speaker is careless, but the listener is intentional. Driven by the concept of folding screen, the share prices of folding screen providers such as Samsung, Tianma and Ruoyu rose one after another. Among them, the shares of BOE, a domestic display panel manufacturer, rose by more than 5% on the 25th and 26th. It seems that the flexible OLED screen has become a new outlet

is flexible OLED a tuyere

and so on. The downstream screen manufacturers, such as the manufacturers' pursuit, the technology of the screen manufacturers' mass production and the unanimous optimism of the capital market, are the outlets? The answer is No. the author thinks that the flexible OLED screen is the hot spot but not the current air outlet. The reasons are as follows:

first, the flexible OLED screen is difficult to mass produce, and the yield is low. According to DSCC data, the yield rate of Samsung flexible OLED screen production increased from 78% in the leading quarter of 2018 to 80% in the third quarter of 2018. In the fourth quarter and the leading quarter of 2019, the yield rate remained at 80%, with no significant breakthrough. For BOE, the yield is much lower than that of Samsung. According to BOE's own prediction, the yield in 2019 will remain at about 70%, while the yield in common LCD screens of both companies is above 99%. It can be seen that it is almost impossible for flexible OLED screens to be mass produced from the current low yield

second, flexible OLED screens are expensive and difficult to be popularized and applied rapidly. It can be seen from the price of the products with flexible OLED screens released at present that the price of flexpai flexible, which was first released, is 8999; The price of Galaxy fold released by Samsung is 1980 US dollars, about 13376 yuan; The price of Huawei meat x released by Huawei at WMC meeting is as high as 2299 euros, about 17500 yuan

according to the GfK report, the global selling price is mainly distributed between $150 and $400, accounting for 46%, while the market share above $800 is only 14%. Therefore, it is difficult to popularize the folding screen at present. It is worth noting that the folding screen is the main customer of the flexible OLED screen at present. If it is difficult to popularize the folding screen, it is difficult to popularize the flexible OLED screen

thirdly, the market scale of flexible OLED screen is also very limited. Folding screens are OLED screens, but not all OLED screens are folding screens. The application scenarios of OLED screen include, tablet, computer monitor, TV, watch, etc., so the market scale is large. According to capital securities, the OLED market is expected to reach 70billion US dollars by 2020

in contrast, the market scale of flexible OLED screen is much smaller, because its application scenarios are very limited. The purpose of flexible OLED screen is to make mobile devices more portable, so it is mainly used in smart and watch scenarios. According to relevant reports on Wall Street, the market scale of flexible OLED screen is expected to reach US $15.5 billion in 2022. From the above three aspects, flexible OLEDs are not tuyeres, but hot spots

BOE vs Samsung: bozhongjian

although the flexible OLED screen is not the current outlet, it is also the concentrated embodiment of the comprehensive strength of screen manufacturers, which is of positive significance to the development of screen manufacturers. At present, only Samsung and BOE can mass produce flexible OLED screens. Speaking of BOE, it has been a good thing in recent years. Not only is the stock market rising all the way, but also the data in the 2018 annual summary released by BOE shows that its display panel shipment in 2018 is the world leader; In addition, the Korean media etnews reported that BOE has become the third largest downstream manufacturer of Apple's flexible OLED, and its products are still in the R & D and pilot production stages, which gives BOE the capital to compete with Samsung

"upstart" BOE and "veteran" Samsung in the display panel Market (1) which is the better if the oil viscosity is too small or too dirty? In fact, it is impossible to say which side has an absolute advantage or which is at an absolute disadvantage. Basically, each has its own merits. However, compared with Samsung, BOE still has two more advantages

first, its LED (liquid crystal) display panel technology remains leading. Display panels are mainly divided into two types, one is led screen, the other is OLED screen, and BOE has the advantage of "generation difference" with Samsung in the aspect of LED screen. LED technology is relatively mature. Since its rise in the 1990s, it has a history of more than 30 years, and the technology has been iterated many times. According to BOE news, at present, Samsung's LED technology is in generation 8.5, while BOE's LED technology is in generation 10.5, two generations ahead of Samsung. This news can be confirmed from BOE becoming the world's largest LCD panel supplier

second, BOE has more advantages in the large display panel market. According to the relevant data of Dongfang wealth Securities Research Institute, the current capacity of Samsung to produce panels remains at generation 8.5, that is, it can only produce LCD TV display panels of less than 55 inches. At present, BOE's LCD production capacity has reached 10.5 generations, and it can produce up to 75 inch LCD TV display panels. Another direct evidence that it has more advantages in large panels is that its 55 inch display shipment in the leading quarter of 2018 increased by nearly 30% year-on-year, 65 inch significantly increased by 136%, and 4K TV panel shipment increased by 34% year-on-year

although BOE has been in the ascendant for several years, we cannot blindly think that it has surpassed Samsung in all respects. Compared with traditional "great powers" such as Samsung, BOE still has several major shortcomings

on the one hand, there is still a gap between the brand value of BOE and that of Samsung. The 2018 World's top 500 brands was listed on the Samsung list, ranking 26th in the world, while BOE was excluded from this list. From this, we can clearly feel the brand gap between the two. BOE's product positioning can also reflect this problem. At present, especially the important requirement of high stiffness precision spring is that the equipment test precision is high. Except for Huawei meat 20, no flagship uses BOE's screen, and most of them use Samsung or sharp's screen. It can be seen that there is still a gap between BOE's brand value and Samsung and other traditional strong manufacturers. Of course, the impact of Chinese psychological factors cannot be excluded

on the other hand, BOE is still inferior to Samsung in OLED display panel. There is a gap between BOE and Samsung in terms of yield, market share and market revenue. The latest industry report released by IHS Markit, a market research company, shows that Samsung accounts for 61.1% of the global smart market and 93.3% of the total OLED display panel market revenue, while both are less than a fraction of that of BOE, and Samsung's yield is about 10% higher than that of BOE, reaching 70%

in addition, BOE's OLED display panel capacity is far lower than that of Samsung. The 2017 data released by IHS shows that BOE's OLED production capacity in 2017 was less than one million, far lower than Samsung's 150million in the same period. The disadvantages in the OLED market directly lead to the difficulty in expanding its share in the high-end display panel market

in addition, the profit margin of BOE is far lower than that of Samsung. Taking the financial reports of the two companies in the third quarter of 2018 as an example, the financial report of BOE shows that the revenue in the third quarter was 25.991 billion yuan, and the net profit was 404million yuan; In the same period, Samsung's revenue was 10.09 trillion won (about 61.6 billion yuan), and its net profit was about 4.5 billion yuan. It can be seen from this that although the difference in revenue between the two is only two times, the difference in net profit is ten times. This data can also reflect the embarrassing situation that BOE has a low profit margin in the field of display panels

the way to upgrade domestic screens

as a leader in domestic screens, BOE still lags behind "big powers" such as Samsung, which also means that domestic screens have not caught up with and surpassed "big powers" such as Samsung, so it still needs to continue to carry the weight forward. If there is a way to get twice the result with half the effort, there is no way to get twice the result with half the effort. To "catch up with the beauty of the Premier League" for domestic screens, we need to suit the remedy to the case and make up for the shortcomings

first of all, domestic screens need to improve their brand image to increase their premium ability and competitiveness. As mentioned earlier, the brand value of excellent domestic screens such as BOE and Tianma is different from that of international first-line brands such as Samsung, LG, sharp and other display panel manufacturers, which leads to great resistance to the impact of products on the high-end market and affects their profitability. Therefore, it is urgent to improve the brand image

as the saying goes, "love your house and love your dog", domestic screens can cooperate with some high-end brands to improve their brand image. At present, Huawei is the most successful in using this method. Its first success in entering the high-end market is the meat 7 in cooperation with Leica. Since then, Huawei has successfully stabilized its high-end brand positioning in cooperation with Porsche. BOE has been certified by apple this time. If it seizes the opportunity to cooperate with apple, it will be of great help to improve the brand image. Other domestic screens can also take this way to improve the brand image

secondly, it is necessary to introduce talents to strengthen technological research and development, and technological breakthrough is the fundamental. The technology of domestic LED screen is ahead of that of foreign first-line brands. Although OLED has broken the technological monopoly, it is undeniable that there is still a certain gap with Samsung and other brands. Domestic brands need to narrow, even catch up with and surpass in technology. In order to achieve technological breakthroughs, talents are essential. They need to increase investment in introducing talents, training 8. Lubricating oil: the lead screw and transmission part of the electro-hydraulic servo universal experimental machine should regularly apply lubricating oil to support talents to promote the progress of product technology

finally, domestic screen manufacturers need to adjust their industrial structure and gradually expand to the medium and high-end display panel market to achieve profit growth. The previous article also mentioned that domestic screens have been unable to enter the high-end display panel market due to various reasons, resulting in low profit margins. In the end, they cannot be invested in large-scale research and development, making it difficult to break through the technology. This is a vicious circle. To end this vicious circle, domestic screens need to actively adjust the industrial structure, develop from low-end to middle-end on the premise of technology, and finally achieve the goal of penetrating into the high-end market. Only when the industrial structure is no longer dominated by the low-end, its profit margin will naturally increase

to sum up, folding screen is an opportunity for domestic screen to turn over. Although it can not immediately make the domestic screen achieve the feat of catching up with Samsung and other international first-line brands, it provides an opportunity for the development of domestic screens to "show muscle" and adjust the structure. It may become the leader of international display panels around 2022

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