Chinese display panel supplier BOE Technology Group Co Ltd is doubling down on the new-generation display technologies, including flexible organic light-emitting diodes and micro/mini light-emitting diodes displays, which have immense application potential in various fields such as smartphones, vehicle-mounted displays and wearable gadgets.

With a total investment of nearly 140 billion yuan ($20.1 billion), the company has built China's first flexible OLED industrial clusters, covering three flexible active-matrix organic light-emitting diodes, or AMOLED, production lines located in Chengdu and Mianyang in Sichuan province and Chongqing, respectively.

Statistics from Sigmaintell Consulting, a Beijing-based market research firm, show that BOE topped the domestic market with flexible OLED panel shipments of about 60 million units in 2021, becoming the world's second-largest OLED maker next to Samsung Display. The shipment of its flexible OLED panels is expected to reach 80 million units in 2022.

The company has recently displayed its latest cutting-edge display technology in Beijing, covering 110-inch 8K ultra-high-definition screen, the world's largest foldable laptop Asus Zenbook 17 Fold, various types of foldable screens, and mircro/mini LED displays.

Data from Sigmaintell showed that global shipments of flexible OLED panels will reach 405 million units in 2022, with Chinese display makers accounting for about 36 percent of the market share.