Organic LEDs To Dominate Conventional Display Technologies

Organic light-emitting diode (OLED) is a LED that depends on organic material derived from hydrocarbon chains to emit light. There are several advantages of using OLEDs over LEDs. For instance, in OLEDs, every pixel can produce light on its own which further increases the high-contrast ratio. Moreover, OLEDs can be used in screens of various devices such as tablets, smartphones, televisions, laptops, and cameras. OLED is energy efficient and enables simpler designs like ultra-thin, flexible, and foldable screens. According to Allied Market Research, the Organic LED Market value is expected to grow at a CAGR of 21.7% from 2020 to 2027. The enhanced specializations that OLEDs offer such as energy efficiency has compelled companies to adopt the technology in their products and launch their products in their niche market.

New entrants in the OLED market

OLED designs enable next-generation, flexible, foldable, and bendable displays which gives it a competitive advantage over other displays.

Despite the fact that the OLED industry is dominated by LG Display, Xiaomi, a Chinese electronics company, has decided to launch Mi TVs with OLED panels in China. The company will introduce three different models of Mi TVs, which are quite popular in India and China. The company gained its popularity due to its value for money with several offerings and its affordable products. Since the existing TV range of Xiaomi consists of reasonable price ranges, we can look forward to an affordable priced OLED TV.

Similarly, Samsung plans to partner with BOE, a Chinese electronics company, to manufacture OLED screens for the future models of Samsung smartphones. Due to the Covid-19 outbreak, the smartphone demand is expected to fall because of possible economic disruptions. Thus, Samsung has decided to tie up with BOE to bring down the cost of its smartphones. The company has already expected a shrink at its market price. Moreover, it has taken several measures to deal with the factors that could directly impact on market value.

There is no doubt that after having a look at the new iPhone 12 model, Apple fans will be pleased. Apple has managed to design a new model with some unlikely but futuristic concepts. This year Apple has decided to used OLED screens instead of LCDs. The main transformation is at the sides and the back of the phone along with a multi-lens camera. There is a secondary OLED display near the camera The new rear-screen has several in-built features and has almost eliminated the use of the front camera as now one could take selfies from the rear camera with the help of display provided at the back. This new feature has taken technology to the next level.

OLEDs are considered to be the best display technology and is being adopted by various companies due to their various specifications. Moreover, every other business or household need energy-efficient lights, which is a major growth factor for the OLED industry. Because of the adoption of urban lifestyle and the inclination of customers toward advanced, lightweight televisions, the demand for OLEDs is bound to increase in the near future.

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