BOE Revenue Nears 200 Billion Yuan with Profit Doubling in 2024 as Display Innovation Accelerates

On April 15, BOE Technology Group released its 2024 earnings preview, revealing a revenue jump of 13.66% to 198.38 billion yuan, while net profit soared 108.97% to 5.32 billion yuan. Operating profit reached 493,100 yuan, marking a 224.67% increase year-on-year, despite global uncertainty and a complex economic environment.

BOE attributed its robust growth to strategic leadership in semiconductor display technologies. The company capitalized on opportunities in both domestic and international markets, benefiting from LCD product recovery driven by replacement demand policies, expanding large-size panel adoption, and sports event-fueled overseas sales. Its super-large panel shipments (85 inches and above) took the global lead, and UB Cell technology kept evolving to meet high-end TV needs.

In the flexible AMOLED segment, BOE shipped approximately 140 million units, with a 40% surge in foldable devices. It also achieved mass production of the world’s first triple-folding model, and became the sole supplier for tandem OLED displays in multiple flagship smartphones. Emerging applications in automotive and IT sectors further strengthened its competitive edge.

Under its “Internet of Displays” strategy, BOE’s MLED and smart window businesses posted significant growth, with light-curtain side window products gaining traction among premium clients. The healthcare division also recorded notable increases in revenue and patient throughput.

2024 also marked a bold step toward future tech, as BOE rolled out its “Nth Curve” innovation model. It successfully produced the industry’s first 2.4m × 1.2m perovskite solar cell with top-tier conversion efficiency and made breakthroughs in glass-based packaging. The newly launched “AI+” strategy aims to enhance manufacturing, R&D, and operations through advanced AI deployment.

BOE’s ability to double profits while navigating a volatile global environment signals a powerful rebound for China’s display industry—and a shift toward tech-led growth in next-generation electronics.