In 2018, BOE shipped 54.3 million TV panels to capture the crown compared to 48.6 million units shipped by second-ranked LG Display, the data showed.

Having already served as the top panel supplier for smartphone, tablet and notebook applications, BOE Technology has also managed to outrace LG Display to become the world's largest supplier of LCD TV.

BOE said that its monitor panel shipments increased 24% on year in terms of unit shipments and 45% in terms of area shipments in 2018.

Competition in the monitor panel sector is expected to heat up in 2019 due to capacity ramp-ups and aggressive pricing strategies from CEC-Panda LCD Technology and China Star Optoelectronics Technology (CSOT).