According to the Securities Daily, BOE Secretary’s Office person said that the company continues to expand or deepen cooperation with Apple and other customer resources, it is not convenient to disclose too much information about a single customer, specific to the announcement shall prevail.
According to TF International analyst Ming-Chi Kuo, BOE’s iPhone display shipments will grow rapidly in 2023, and it may beat Samsung and LG Display as soon as 2024 and become the largest display supplier for the new iPhone.
According to the latest survey by Ming-Chi Kuo, BOE has beaten Samsung to obtain most of the display orders for the new iPhone 15 and iPhone 15 Plus in the second half of this year. If the development and production go well in the next few months, BOE will be the largest screen supplier for the iPhone 15 and 15 Plus, accounting for about 70% of the supply (Samsung accounts for about 30%).
Ming-Chi Kuo said that BOE has only obtained orders for the 6.1-inch iPhone 14 display in the iPhone 14 series, and the proportion of supply is the lowest. Therefore, in the second half of this year, BOE’s iPhone display shipments will increase significantly year-on-year.
Other information revealed by Ming-Chi Kuo is as follows:
BOE’s iPhone display shipments in 2022 accounted for only about 12–15%. Therefore, even if iPhone shipments are negatively affected by the economic recession in 2023, BOE’s iPhone display shipments in 2022 have a low base period. Still easily able to achieve high shipment growth of 70–100% YoY (year-over-year), significantly better than most of Apple’s suppliers.
BOE expects to ship a large number of LTPO displays for high-end iPhones in 2024 (Samsung and LG Display are also suppliers). If BOE can obtain about 20–30% of the high-end iPhone LTPO display orders in the second half of 2024, and maintain a shipment ratio of about 70% of the low-end iPhone display in 2H24, then BOE has the opportunity to become the largest display of the new iPhone in the second half of 2024 supplier.
BOE’s key profit growth momentum from other new applications in the next 2-3 years, including Apple’s medium-to-large-size OLED, Apple’s medium-to-large-size mini-LED, and lower-priced foldable screens for Android phones.
