Sources say BOE’s OLED shipments soared 70% this year, with two major factories supplying Apple’s iPhone/iPad

After more than 20 years of catching up, domestic companies have made it to the top of the world in LCD, while BOE is the world's largest LCD panel maker, currently lagging behind South Korea's Samsung mainly in OLED panels, but is also catching up fast, with Nikkei News reporting that shipments will jump 70% this year.

BOE plans to increase OLED panel deliveries by nearly 70 percent this year, according to the report, with its two production lines in Chengdu and Mianyang, Sichuan province, expected to run at full capacity this fiscal year and a third line in Chongqing in full volume production, which will grow BOE's OLED output from 60 million units in 2021 to 100 million units this year.

BOE's Chongqing production line is testing the quality of panels for top smartphone and tablet makers, the report said.

The Sichuan plant is already supplying Apple, and BOE apparently wants the Chongqing plant to supply Apple with panels as well.

BOE is also considering building a new OLED factory in Chengdu, which it says is based on "an assessment of the strategic, market, technical and financial situation. The new plant is scheduled to start production by the end of 2024, but no capacity has been announced.

Nikkei noted that while BOE currently holds the world's largest share of LCD panels, surpassing its South Korean rivals, South Korea's Samsung Electronics and LG Display are still in the lead in the OLED panel sector.

The start-up of BOE's Chongqing plant and the construction of the new Chengdu plant will enable BOE to close the gap with its South Korean rivals.