OLED TV market to grow 10-fold each year until 2014: report

The OLED (organic light emitting diode) TV market will witness rapid 10-fold growth each year until 2014 while annual sales of OLED TVs will reach 10 million units by 2016, said a recent report. 

OLED TVs will sell 20,000 units this year, the first year of its release, predicted market researcher DisplaySearch Wednesday in its latest market forecast. OLED sales will log 0.25 million units in 2013, 2.25 million units in 2014, and 5.00 million units in 2015 - at which point it will outshine PDP TVs (plasma display panels, estimated sales of 2.59 million units). Total OLED sales will reach 10 million units by 2016, predicted the report. 

OLED is the latest generation TV technology. South Korean electronics makers Samsung Electronics and LG Electronics are emerging as leaders of the newest tech as they hint at releasing commercial OLED models by the second half this year. 

Meanwhile, Japan’s Sony and Panasonic - longtime rivals - announced Monday that they will join forces to co-develop OLED TV panels. Actual production of the panels and commercial TV products equipped with OLED will most likely hit the markets after next year. Other foreign competitors - Taiwan’s AUO, Chinese panel maker BOE, and Japan Display (a joint venture by Sony, Hitachi, and Toshiba) - are also said to be beefing up investments in OLED production. 

PDP and CRT (cathode ray tube) TV models will continue losing market shares on the growing popularity of OLED and LED TVs, added the report. LCD TVs (including models using LED backlights) clinched 83 percent of the market last year in terms of sales, and will expand its hold to 97 percent by 2015. In contrast, PDP shares will fall from seven percent to one percent and CRT shares from 11 percent to below one percent during the same time period, predicted the report. 

The global TV market is estimated to grow from this year’s 245.13 million units to 283.9 million units by 2016.