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The industrial and public displays market has been growing from 7.6% of total market share in 2020 to 8.5% in 2021, and is expected to grow to 8.7% in 2022. Chinese panel makers have taken the lead for industrial display, in which Tianma tops the first place with 37% share in 2022, followed by BOE, AUO, Innolux and Truly, according to Omdia.

Global factors have had a major impact on LCD panel demand in 2022, causing industry players to expect demand to remain weak through the first half of 2023. Taiwan-based LCD panel makers such as AU Optronics (AUO) and Innolux are making moves to boost their market share by targeting smart markets and creating value-added services.

Though demand for LCD panels has nosedived in 2022, automotive displays will drive global LCD panel output value to continually increase to over US$70 billion in 2030, according to DIGITIMES Research director Tony Huang.

LCD panel maker AUO has disclosed it has cooperated with VFX (visual effects) specialist Renovatio Pictures to set up an LED virtual studio at Central Motion Picture"s film studio in Taipei to provide integrated services consisting of shooting scenes and stages, content production, technical counseling and rental equipment.

While global sales of smartphones have decreased, global shipments of smartphone-use flexible OLED panels keep increasing but those of rigid OLED panels have slipped, according to industry sources.

As global demand for XR (extended reality) headsets is expected to take off in 2023, microLED panels tend to surpass LCD and OLED panels to become mainstream, specifically for XR devices, according to South Korea-based Money Today.

LCD panel maker Innolux has reported consolidated revenue of NT$16.182 billion (US$529.25 million) for November, growing 3.61% sequentially but slipping 39.15% on year.

LG Display (LGD) will bring to an end production of LCD panels at its P7 plant in Paju, northern South Korea, sooner in mid-December 2022 or later at the end of the month, and thus end production of all LCD panels in South Korea, according to South Korea-based TheElec.

Chinese panel makers including BOE, TCL CSOT, and Visionox have been acting keenly to expand AMOLED capacities, following the footsteps of Korea-based Samsung Display and LG Display, according to DIGITIMES Research"s latest study.

Global OLED Technology (GOT), LG Display"s (LGD) subsidiary that owns and licenses OLED technology patents, sent warning to China-based panel maker BOE Technology against infringing on such patents in the first half of 2022, according to South Korea-based media The Elec.

LCD panel maker AUO has announced its consolidated revenue in November reached NT$17.48 billion (US$571.26 million), up by 1.7% month-over-month but down 43.4% year-over-year.

As the display industry stays in stagnation, Taiwan-based PMOLED panel makers, including Ritdisplay and Wisechip Semiconductor, have been venturing into new business segments.

PMOLED (passive matrix OLED) panel maker Ritdisplay has stepped into battery business by establishing subsidiary battery maker Ritwin and investing in Welltech Energy, and expects the battery business to mainly drive business growth in the future, according to the company.

Sales promotion of TVs at the Double 11 (November 11) online shopping festival in the China market and the Black Friday & Cyber Monday shopping festival in the US market has helped TV vendors lower inventory levels and, in turn, is conducive to a rebound in demand for TV-use LCD panels, according to president James Yang for TFT-LCD panel maker Innolux and president Frank Ko for fellow maker AUO.