In 2025, China has introduced a new round of “national subsidies,” further expanding the scope of its policy. In addition to continuing subsidies for televisions, PCs, and other electronics, products such as smartphones, tablets, and smartwatches have been included in the subsidy program as of January 20.
As a core component of these devices, display panels are expected to benefit from increased demand, driving growth in shipment volumes and prices.
Smartphones and Tablets Included in the National Subsidy Program for the First Time
Taking smartphones as an example, as of 11 a.m. on January 23, JD.com has rolled out digital product purchase subsidies in cities such as Beijing, Shanghai, Guangdong, Hainan, Chongqing, Shanxi, Jiangsu, Hubei, Hunan, Xiamen, Shaanxi, Yunnan, Jilin, Zhejiang, Sichuan, and Heilongjiang, with activities in other cities gradually launching as well.
According to JD.com, within the first 12 hours of the subsidy policy launch on January 20, smartphone sales in the covered provinces and cities increased by 200% compared to the previous period. Tablet sales grew by 300%, and sales of children’s smartwatches rose by 100%.
Under the smartphone subsidy program, individual consumers purchasing smartphones priced at no more than 6,000 yuan can receive a subsidy of up to RMB 500, equivalent to 15% of the sales price. This policy sends a strong signal to panel manufacturers, spurring demand for small-to-medium-sized OLED and LCD panels.
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