South Korean panel giant LG Display Co. outpaced its archrival Samsung Display Co. in TV panel shipments last year on the back of increased sales in the Chinese market, data showed Monday.
LG Display sold 55.3 million TV panels in 2015, up 6.4 percent from 51.9 million units sold a year earlier, the data compiled by industry tracker WitsView showed. The data includes organic light-emitting diode, liquid crystal display and plasma display panel products.
Samsung Display, a sister of the global tech giant Samsung Electronics Co., fell two notches on-year to rank third in 2015, with its shipments standing at 50.9 million units, down 8 percent from a year earlier.
Samsung led the TV panel market in 2014, followed by LG Display and Taiwan-based Innolux Corp.
WitsView said the rise of LG Display was in line with efforts to reduce its dependency on LG Electronics Inc. and instead focus on the Chinese market.
Innolux ranked second last year with shipments of 51.7 million units, up 3.1 percent on-year, the data also showed.
Among the world's top six players, China-based BOE Technology boasted the sharpest growth, with its TV panel shipments soaring 148.5 percent over the cited period to reach 356.6 million units, apparently helped by the Chinese government's support and introduction of new production lines.
The global TV panel market is estimated at 269.7 million units for 2015, up 8.9 percent from a year earlier, according to the data. (Yonhap)