Shipments of organic light-emitting diode (OLED) displays for smartphones surged 30 percent globally in the third quarter of 2017 as compared to the same period in 2016, data showed on Thursday.
According to data from industry tracker IHS Markit, the global market for the OLED displays for smartphones came to $4.7 billion (roughly Rs. 30,253 crores) in the third quarter, rising sharply from $3.6 billion (roughly Rs. 23,166 crores) posted a year earlier, Yonhap News Agency reported.
Japan-based Sharp Corp accounted for 8.2 percent.
OLED displays are widely applied on major smartphones, including Samsung Electronics Co's Galaxy Note 8 and Apple's iPhone X, due to their slim and flexible nature, which can be utilised for various designs.
Industry watchers said the growth was anticipated to continue down the road as Chinese brands were also planning to apply OLED displays on their devices.
For all of the small and medium-sized displays, the combined size of the market came to $14 billion (roughly Rs. 90,094 crores), up 20.4 percent from a year earlier.
The segment covers displays that are nine inches and smaller, and products used mostly for smartphones, tablet PCs, and wearable devices.