Growing number of Chinese smartphone makers are raising investments in OLED panels, including BOE Technology Group and six other major local players have constructed new factories and invested in total more than 2 trillion Japanese Yen (US $9 billion), reported Nikkei Asian Review.

The market for glass-based AMOLED displays is expected to reach almost US $23 billion in 2022. In an effort to adapt to new market conditions both Samsung and LG Display are now ramping up production capacity of plastic-based OLED displays, for which IDTechEx forecasts the market will nearly double next year from $1.5 billion in 2015 to $2.9 billion in 2016.

Technavio, a tech-focused research firm, has published a new report on the global OLED material market, which is expected to grow at a CAGR of 21.5% from 2015-2019.

The commercialization of OLED lighting continues to accelerate, with a growing list of companies announcing their intention to enter the market. Although traditional lighting companies are active, seeking to safeguard their position with regards to OLED lighting, there are many new entrants that want to challenge these incumbents and shift the dynamics of the industry. 

Innovation Network Corporation of Japan (“INCJ”), Japan Display Inc. (“JDI”), Sony Corporation (“Sony”), and Panasonic Corporation (“Panasonic”) announced hat they have executed a definitive agreement to establish a new company, JOLED Inc. (“JOLED”), to integrate Sony and Panasonic’s R&D functions for organic light-emitting diode (“OLED”) display panels. Through this collaboration, the companies aim to accelerate the development and early commercialization of OLED display panels. JOLED is scheduled to be launched in January 2015, subject to receipt of any necessary approvals.

The lighting industry is a large, global and yet fragmented market place. The fragmentation is driven both by technology differentiation and customer need diversity. The technologies vying for market share include incandescent lamp, compact fluorescent lamp (CFL), halogen lamp, light-emitting diodes (LEDs) and, most recently, organic light emitting diodes (OLED). The target markets are also very diverse, each serving different needs and demanding different price points. These markets include;

Samsung officials in China have denied recent market rumors that “the company is terminating OLED TV production capacity expansion plans,” according to a China Business News report. Chinese industry insiders interviewed in the report note the company’s is probably considering adjusting large-screened OLED TV production technology.