BOE Technology and OLED Microdisplay maker OLiGHTEK announced a new joint-venture to produce OLED microdisplays for the consumer VR and AR markets. The new company will be established in Kunming, Yunnan, and will have an annual production capacity of a million OLED microdisplays.
Total investment in the new venture will total $167 million USD. BOE will invest 76.5% of the capital and OLiGHTEK will invest 20%. There is a third partner, Gao Ping Technology from Shenzhen, that will invest 3.5% of the capital. BOE will also apparently invest around $7.2 million in OLiGHTEK. The new company will base its production on OLiGHTEK's technology.
It seems like the OLED microdisplay market is heating up. Kopin recently announced its entry into this market (and already secured a first design win) while eMagin is also gearing up to increase production capacity as it hopes to provide OLED microdisplays to consumer AR and VR HMDs.