Samsung Electronics, 2018년 2분기 디스플레이 사업 영업이익 1,400억원 기록

Samsung Electronics는 7월 31일 진행된 2018년 2분기 실적 컨퍼런스 콜을 통해 매출 58조 4800억원, 영업이익 14조 8700억원을 기록했다고 발표했다. 전년 동기 대비 매출은 4% 감소했고 영업이익은 8000억원 증가했다. 전분기 대비 매출은 3%, 영업이익은 8000억원 줄었다.

Samsung Electronics에 따르면, 디스플레이 패널 사업은 flexible OLED 패널 수요 둔화와 LCD TV 패널 판매 감소로 실적이 감소하며 매출 5조 6,700억원, 영업이익 1,400억원을 기록했다. OLED 부문은 rigid OLED 가동률이 개선되었음에도 불구하고, flexible 제품 수요 약세가 지속돼 전분기 대비 실적이 감소했다

하반기에는 rigid OLED에서 LTPS LCD와 경쟁이 심화될 것으로 예상되나, flexible 제품 수요 회복에 따른 판매 확대로 실적이 개선될 것으로 전망된다. 애플 아이폰 신모델용 flexible OLED를 2분기부터 생산함에 따라 하반기에 매출과 영업이익이 개선 될 것으로 예상된다.

Samsung Electronics는 차별화된 기술력과 원가 경쟁력 강화를 통해 모바일용 OLED 점유율을 확대하고 foldable OLED 등 신규 제품군 역량을 강화할 계획이다. foldable OLED는 당장 하반기 실적보다는 내년 이후 성장에 기여할 것이라고 언급했다.

IT·모바일(IM) 부문의 2분기 매출은 24조원, 영업이익은 2조 6,700억원을 기록했다. 영업이익은 전년 동기(4조600억) 대비 34.2% 줄었으며 전 분기(3조7700억원)보다도 크게 감소했다. 2분기 휴대폰 판매량은 7,800만대로, 이 중 90%가 스마트폰이다. 태블릿은 500만대가 판매됐다. 단말기 평균판매가격(ASP)은 220달러대 후반이다.

소비자가전(CE) 부문의 2분기 매출은 10조 4,000억원, 영업이익은 5,100억원을 기록했다. 상반기 전체로는 매출 20조 1,400억원, 영업이익 7,900억원이다. 글로벌 스포츠 이벤트 특수 속에 QLED TV 등 고부가 제품 판매 호조로 TV 이익이 개선되었다.

한편 삼성전자의 2분기 시설투자 규모는 8조원이었다. 사업별로는 반도체 6조 1,000억원, 디스플레이 1조 1,000억원 수준이다. 상반기 누계로는 반도체 13조 3,000억원, 디스플레이 1조 9,000억원 등 총 16조 6,000억원이 집행됐다.

What is the investment cost for large-area OLED that will lead the premium TV market?

■ Investment cost comparison and analysis for WRGB OLED, solution processed OLED and QD-OLED
■ Total OLED process equipment is expected to form a market of US$ 58.8 billion from 2018 to 2022, and inspection equipment market is estimated as US$ 8.4 billion

In the premium TV market, the market share of OLED TVs is steadily rising, and the number of OLED TV camps is gradually increasing. OLED TV adopts color filter to WRGB OLED, and currently LG Display only mass produces the OLED panels.

On the other hand, Samsung Display is developing QD-OLED (blue OLED + quantum dot color filter) to compete with WRGB OLED in the premium TV market. Blue OLED is a technology in which the blue light emitted from OLED passes through a quantum dot layer and a color filter to represent red and green colors.

<Expected structure of QD-OLED>

UBI Research analyzed the structure and investment amount of WRGB OLED and QD-OLED, which are the latest issues, in the‘AMOLED Manufacturing and Inspection Equipment Industry Report’ published on June 6. In addition, the investment amount of the solution process OLED, which has got the industry attention due to its possible implementation of real RGB in large-area OLED, is also analyzed and compared.

As a result of analyzing the equipment investment cost based on the 8th generation 26K, the QD-OLED investment cost is 3% higher than WRGB OLED and the investment cost of solution process OLED is 19% less than that of WRGB OLED.

In the QD-OLED investment cost, it is reflected that QD color filter is separately formed and its laminating process is added. For the analysis of solution processed OLED investment cost, color filter is excluded and ink-jet printer is applied instead of deposition equipment.

In addition, the report forecasts the overall OLED equipment market from 2018 to 2022. The total OLED overall equipment market is expected to reach US$ 106.7 billion from 2018 to 2022. The market for process equipment is projected as US$ 58.8 billion and inspection equipment market is to be US$ 8.4 billion.

Premium TV 시장을 주도할 대면적 OLED의 투자 비용은?

최근 premium TV 시장은 OLED TV의 점유율이 지속적으로 상승하고 있으며 OLED TV 진영도 꾸준히 증가하고 있는 추세다. OLED TV는 WRGB OLED에 color filter를 적용한 구조로써, 현재 LG Display만이 유일하게 OLED panel을 양산하고 있다.

이에 Samsung Display에서는 premium TV 시장에서 WRGB OLED에 대항하기 위해 blue OLED + quantum dot color filter(이하 QD-OLED)를 개발하고 있는 것으로 알려졌다. Blue OLED는 OLED에서 발광 된 청색광이 quantum dot층과 color filter를 통과해 red와 green 색을 나타내는 기술이다.

<QD-OLED 예상 구조>

유비리서치는 지난 6일 발간한 ‘AMOLED Manufacturing and Inspection Equipment Industry Report’에서 최근 이슈가 되고 있는 WRGB OLED와 QD-OLED의 구조와 투자 금액을 분석했다. 뿐만 아니라, 대면적 OLED에서 real RGB를 구현할 수 있어 주목받고 있는 solution process OLED의 투자 금액도 함께 분석하여 비교했다.

8세대 26K 기준으로 장비 신규 투자비를 분석한 결과, QD-OLED 투자비는 WRGB OLED에 비해 3%가 많고 solution process OLED는 WRGB OLED에 비해 19% 적은 것으로 조사되었다.

QD-OLED 투자비에서는 QD color filter가 따로 형성되고 이를 합착하는 공정이 추가된 내용이 반영되었으며, solution process OLED 투자비에서는 color filter가 제거되고 증착 장비 대신 ink-jet printer가 투입된 내용이 반영되었다.

이 밖에 본 보고서에서는 2018년부터 2022년까지 OLED 전체 장비 시장도 예상하였다. 2018년부터 2022년까지 OLED 전체 장비 시장은 US$ 106.7 billion을 형성할 것으로 전망되며, 공정 장비는 그 중 US$ 58.8 billion, 검사 장비는 US$ 8.4 billion의 시장을 형성할 것으로 예상된다.

<2018년~2022년 장비별 전체 시장 점유율 전망>

Automobile OLED is going to lead automotive display market.

Last May, Audi announced that it implemented a camera function in the side mirrors of the electric vehicle SUV e-tron quattro and built an OLED display inside to realize an air resistance coefficient of 0.28 cd. Audi noted that this not only improves fuel efficiency, but also eliminates a blind spot to help drivers drive.

<Interior concept photo of Audi e-Tron released in 2015, Source: insideevs.com>

In addition, all the interior displays are applied with OLED in e-tron quattro. OLED is considered to be suitable for automotive displays because it can achieve higher contrast ratio, faster response speed, and higher visibility due to wide viewing angle, compared to LCD.

Continental corporation, a supplier of automotive parts, also introduced several advantages of mirrorless cars with two OLEDs on its homepage and stated that it is possible to provide better visibility even in dark or rainy conditions.

Meanwhile, not only Samsung Display and LG Display but also Chinese panel makers are introducing various OLED products to market.

Samsung Display exhibited its rollable CID (center information display) and curved 12.4- inch CID, which can be used to adjust the screen size using OLEDs, in SID 2018 held in May.

<Samsung Display’s 12.4 inch curved CID applied with OLED>

Also, a variety of automotive products using OLEDs such as 6.22-inch unbreakable steering wheel OLED and 4.94-inch transparent OLED head up display HUD (head up display) were introduced.

BOE exhibited 12.3-inch automotive flexible OLEDs in SID 2018, and Tianma and Truly introduced automotive rigid OLEDs in Lighting Japan 2018 held in January 2018.

<12.3-inch flexible automotive OLED of BOE>

Since the automotive display field requires more customization than mobile devices and TVs, it is attracting attention as an industry that is expected to generate high added value.

Samsung Electronics emphasized the automotive OLED panel business as a future business at the Investors Forum held in Singapore in early June, and estimated that “OLED panels for electric field will grow from 100,000 sheets this year, to 1 million sheets in 2020 and 3 million sheets in 2022.”

Samsung Display’s 1Q 2018 shipment declined, but it is expected to recover in 2Q.

According to UBI Research’s first quarter display market track, Samsung Display’s OLED shipments for smart phones dropped to 88 million units, down 26.0% from the previous quarter, and 4.7% year-on-year decrease.

On the other hand, the sales revenue was US$ 5.37 billion, down 32.4% from the previous quarter and 30.4% year-on- year increase.

<Samsung Display’s sales performance of OLED for Smartphone, 1Q, 2018>

For rigid OLED, the utilization rate of rigid OLED mass production lines dropped in 1Q due to the keeping adoption of LCD in Samsung Electronics’ entry-level model and the decline in demand from Chinese set makers. For flexible OLED, its capacity utilization rate also declined due to falling demand from Apple and sluggish sales of Galaxy S series .

UBI Research mentioned, “In the first quarter of 2018, the sales were sluggish due to falling demand of set makers; however, the full-screen rigid OLED demand began to increase in April, and accordingly the utilization rate of rigid OLED production lines began to rise gradually. From June, the utilization rate is expected to recover to the previous year level. Also, the flexible OLED mass production lines will be likely to be in full operation since Samsung Electronics will start mass production of the next model and Apple will start mass production of new models.”

The overall OLED market was totaled as US $ 6.12 billion in the first quarter of 2018, of which the OLED market for smart phones was 91.1% and the market of OLED for TV was 5.7%.

The OLED market for smartphones is projected to reach 4.4 billion units in 2018, and Samsung Display is expected to hold a market share of 93.4%.

<2018 OLED market forecast>

Portfolio Items