Samsung Display Co., a major display panel maker in South Korea, dominated the global smartphone panel market in the first half of the year, a report showed Tuesday, though its market share declined slightly from a year earlier.

Samsung Display, an affiliate of top smartphone maker Samsung Electronics Co., grabbed a 48 percent revenue share in the global smartphone display panel market in the first six months of 2021, down from a 50 percent share a year earlier, according to a report from market researcher Strategy Analytics.

China's BOE Technology Group Co. came in second with a 15 percent share followed by Tianma Microelectronics Co. with 8 percent.

The global smartphone display panel market posted revenue of $21 billion in the first half, up from $18.6 billion a year earlier.

"The smartphone display panel market grew on the back of continued demand from handset manufacturers who expanded the application of OLED panels in mid and high-tier smartphones," Jeffrey Mathews, a senior analyst at Strategy Analytics, said. "The scramble to secure display panel inventory to mitigate supply challenges is also driving demand."

Strategy Analytics predicted that demand for high-end displays, especially foldable panels, will drive further growth in the market, though ongoing display driver component shortages could pose a problem. (Yonhap)