The smartwatch trend is gradually catching on and as more and more companies bring their wearable devices to market, the more components they need to purchase in order to make them. LG seems to have struck gold since it’s currently the only supplier of displays for the Apple Watch and that has helped it to cement its position as the biggest smartwatch display vendor on the market right now.
During the first quarter of 2015 the entire smartwatch display market was estimated to be worth $240 million, with LG taking the lion’s share of $186 million. That’s more than 90 percent of the entire market.
Other vendors are trying to gain position as well but they’re quite far behind. Samsung Display only accounted for 3.1 percent of the market and Japan Display came in third with 2.1 percent.
LG accounted for 66.8 percent of the total display shipments with 8 million units being send out to OEMs in the first quarter of this year. This is nearly eight times the volume that LG shipped back in Q4, 2014.
It certainly works in LG’s favor that it’s the sole supplier of displays for the Apple Watch, which despite its supply issues appears to be doing quite well as opposed to the competition.
The Korean company also uses its display panels in its own smartwatches, LG has already released multiple smartwatches in the market.