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iPhone 11 and Note 10 Sales Drive Samsung’s OLED Panel Shipments in Q313 to a 53% Q/Q Gain
November 11, 2019
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Samsung Display Q319 earning call showed that revenues were up 19% sequentially and down 14% Y/Y to $7.75B with operating income rising 53% sequentially and flat Y/Y at $983M. The sequentially growth was attributed to increased demand for flexible OLEDs as well as higher utilization at rigid OLED fabs. LCD shipments and revenue continue to drop and represent the majority of the Y/Y decreases. Samsung’s OLED margins were 19% up 4% sequentially and 6% Y/Y, while LCD margins were -22% in Q319.

• The OLED mix was reported as mid-80%. DSCC believes it was 84%, up from 79% in Q219.
• OLED revenues rose 26% Q/Q to $6.5B, but were still down 10% Y/Y. Strong demand from Apple and Samsung for flexible OLEDs and from Samsung and Chinese brands for rigid OLEDs drove the growth. 
• LCD revenues were down 9% Q/Q and 29% Y/Y to $1.2B, a new low.