Everdisplay Optronics (Shanghai) (SH:688538) Ge Long Hui·2026-02-09 09:58Core Insights - In 2025, global OLED smartphone panel shipments are projected to reach approximately 890 million units, representing a year-on-year growth of 5.2% [1] - Flexible OLED shipments are expected to be around 690 million units, with a year-on-year increase of approximately 9.6% [1] - The growth is driven by four main factors: product structure upgrades on the demand side, capacity expansion and cost optimization on the supply side, domestic support policies, and differentiated competitive advantages from technological iterations [1] Supply Side Changes - In 2025, a new supplier, EDO, will enter the FOLED market, indicating a shift in the supply landscape [1] - Rigid OLED shipments are projected to decline to about 200 million units, reflecting a year-on-year decrease of 7.7%, as they continue to be replaced by flexible OLED products [1] - The market share of rigid OLED is expected to continue shrinking due to this ongoing substitution [1]