EverDisplay updates on its latest fab expansion project, its latest financial results and the effect of the COVID outbreak in Shanghai

China-based AMOLED producer Everdisplay is progressing with its expansion plan for its 6-Gen production line in Shanghai. EDO's new line, which will have a monthly capacity of 15,000 substrates is progressing as planned, with trial production expected in 2023.

Everdisplay 6-gen flexible OLED fab Shanghai (render)

It seems as if EDO is targeting automotive applications for its latest AMOLED displays. The company already started developing OLEDs for automotive applications in 2015, and now the company is now stepping up its efforts, as large displays are entering the automotive market.

EDO confirms it is working with Chinese car maker SAIC on a 12.8" automotive-grade AMOLED display panel. The company is also working with other automotive brands for OLED-based solutions.

EDO also updates on the effect of the COVID outbreak in Shanghai on its business. The impact on the company's business has been large, but in May things have gradually began to recover. The current production rate at EDO's Shanghai-based fab is at about 70% of its normal level.

Finally, EDO reported its financial results for Q1 2022, with revenues of 1 billion Yuan (around $150 million) and a loss of 189 million Yuan ($28 million USD). The company is still not sure whether it will manage to turn a profit in 2022.

Posted: May 27,2022 by Ron Mertens