In 2025, global OLED smartphone panel shipments are projected to reach 890 million units, marking a 5.2% year-on-year increase. Among them, flexible OLED panel shipments are estimated at approximately 690 million units, up 9.6% year-on-year, while rigid OLED panel shipments, which are being replaced by flexible OLEDs, are expected to reach around 200 million units, a 7.7% year-on-year decline. This growth trend is primarily driven by four key factors: demand, supply, policy, and technology, with Everdisplay emerging as a new supplier in the flexible OLED market. In terms of regional distribution, South Korean manufacturers dominate the high-end market, holding over half of the market share, while Chinese mainland manufacturers have increased their shipment share to 49.3%, indicating a gradual shift in the global flexible OLED supply hub toward China. In the market landscape, Samsung maintains its leading position, while manufacturers such as BOE, Tianma, Visionox, and CSOT each demonstrate notable growth highlights. Looking ahead, OLED panel market demand may weaken in the short term, intensifying price competition; however, in the long term, the deployment of high-generation lines and capacity releases will reshape the competitive landscape, with the competitive logic potentially shifting toward 'ecosystem collaboration' and 'value co-creation.' Manufacturers will need to overcome limitations and drive an upgrade in competitive focus.