Yes. The most likely cause is the LED display refreshing or flickering faster than you can notice with your eyes, while the camera captures only part of that cycle during the exposure. Many LED displays are driven so only some segments are lit at any instant, and your phone caught the display mid-refresh, making digits look incomplete or uneven.

This is mainly a shutter-speed/exposure timing issue rather than a fault with the display. A longer exposure usually helps because it averages multiple refresh cycles together. Try using a slower shutter speed if your camera app allows it. Around 1/50 s may improve it, and a much longer exposure such as about 1/4 s or slower can average the refresh enough that brightness differences largely disappear.

So yes: it’s caused by the interaction between the LED refresh cycle and the camera’s exposure timing.