According to a recent market research report, global shipments of OLED displays for smartphones are projected to decline significantly this year. The decrease is attributed to rising memory chip prices and increased market uncertainty, which have already led to an expected 7% drop in worldwide smartphone shipments.

A downturn in smartphone shipments will inevitably affect demand for various components, including displays, batteries, cameras, and chips. In its latest report, the research firm forecasts that global shipments of OLED displays for smartphones will fall to 778 million units this year, down from 837 million units in the same period last year—a year-on-year decrease of 7%.

Last year, global shipments of smartphone OLED displays grew by only 5%, a sharp slowdown compared to the 29% growth seen in the previous year, indicating early signs of market fatigue.

As in previous years, flexible OLED displays are expected to make up the majority of shipments, projected at 651 million units, while rigid OLED displays are estimated at 127 million units. Both categories are anticipated to see declines compared to last year, when flexible OLED shipments reached 684 million units and rigid OLED shipments totaled 153 million units.