The OLED manufacturing industry, particularly key players like LG Display, Samsung, and BOE, is increasingly concerned about slowing demand for TVs and smartphones, largely due to US tariffs introduced by the Trump administration.

Apple, a major buyer of OLED panels, is also facing challenges as demand for its iPhone, Mac, and iPod products declines.

According to market tracker Counterpoint Research, global smartphone shipment growth projections for this year have been revised downward from 4.2% to 1.9%, citing uncertainties around US tariffs.

Apple, the largest buyer in the OLED market, remains a focal point as Korean panel suppliers closely watch evolving trade policies. Another research firm, Omdia, has also lowered its forecast for smartphone panel market growth from 5% to 4%, citing weakening consumer demand. Since smartphone displays make up the biggest share of the overall display market, declining revenues in this segment are a growing concern.

Market analysts warn that if tariffs are imposed on finished products such as smartphones, retail prices could rise, discouraging consumers and forcing manufacturers to shift costs onto their suppliers. Currently, Samsung Display provides about 50% of OLED panels for iPhones, followed by LG Display at 30% and China’s BOE at 20%. For premium iPhone models like the iPhone Pro, Korean manufacturers are believed to be the sole suppliers.

“If the Trump administration enforces tariffs on smartphones, manufacturers may consider price hikes and component cost reductions to offset the impact,” said Im Mi-hye, a senior researcher at the Korea Eximbank’s Overseas Economic Research Institute. “Display makers will need to intensify cost-cutting measures to remain competitive.”
Meanwhile, Chinese panel makers—less reliant on Apple—are expected to continue expanding their market share by catering primarily to domestic smartphone brands.

Despite the overall market downturn, Counterpoint Research projects Huawei’s shipments to increase by 11% this year, as supply bottlenecks for key components are expected to ease by year-end, enabling Huawei to strengthen its presence in China’s mid- to low-end smartphone market.

The TV OLED sector, dominated by Korean manufacturers, is also experiencing challenges. In the first quarter of this year, the average selling price of OLED TV panels dropped by 5% to 9% compared to a year ago, continuing a downward trend that began in the third quarter of 2023.

“In the short term, US tariff policies may have a limited impact on Korea’s display industry,” said an industry source who requested anonymity. “However, over the long term, concerns over inflation and a global economic slowdown could weaken demand for IT devices—affecting both pricing power and overall display market demand.”