Despite previous setbacks, BOE has allegedly beaten Samsung to secure the most 2H23 new iPhone 15 and iPhone 15 Plus display orders. If development and production proceed without any hiccups, BOE will be the largest display supplier for the iPhone 15 and iPhone 15 Plus with a market share of around 70%, compared to Samsung's 30%.
For the 2H22 iPhone 14 series, BOE only obtained orders for the 6.1" iPhone 14 display and had the lowest market share. As a result, BOE's shipment of iPhone displays for 2H23 will grow significantly on a YoY basis. BOE's market share of iPhone display shipments was only around 12–15% in 2022. Therefore, even if iPhone shipments are negatively affected by the economic recession in 2023, BOE could still easily achieve a high YoY growth of 70–100% due to the low base of iPhone display shipments in 2022, outperforming most Apple suppliers.
Kuo believes that BOE will join Samsung and LG in supplying LTPO displays for the iPhone Pro in 2024. If the company can obtain orders for 20-30% of Pro models and maintain a 70% share of orders for the standard iPhone 15, it will become the largest supplier of iPhone displays.
BOE's key growth drivers for profits from new applications over the next 2–3 years include medium to large OLED displays for Apple, medium to large mini-LED displays for Apple, and more affordable foldable displays for Android phones.
You can download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more iPhone updates.