Investing in OLEDs: discover OLED stocks to invest in
OLED is a display technology that enables thin, efficient, flexible and bright displays, TVs and lighting devices. OLED displays offer the world's best image quality - and enable flexible, foldable and rollable displays (see more here - What is OLED?).
The OLED market is already a multi-billion dollar market, led by Samsung, LG Display, BOE and others. It is estimated that OLED displays generated over $40 billion in revenues in 2023 and the market is expected to continue growing in the future.
OLED stocks
There are dozens of companies developing and producing OLEDs, from display makers such as Samsung, LG and BOE to smaller R&D startups and IP companies.
For public investors interested in the OLED market, there are several good options, including:
- Universal Display Corporation: UDC is an OLED pioneer, and holds many of the key patents in the industry (mostly around efficient phosphorescent OLED emitters). Virtually all AMOLED displays on the market adopt UDC's PHOLED materials, and the company experienced very fast growth in revenue in recent years. Universal Display's stock ticker is OLED, you can see the OLED share price here.
- eMagin: eMagin is an OLED microdisplay pioneer, and has been developing and producing such displays for many years, focusing on the defense market and recently also on the consumer VR/AR market. In 2023, eMagin was acquired by Samsung.
- Coherent: Coherent is a world leader in laser, pioneering the use of Excimer Laser Annealing for the production of LTPS and LTPO backplanes. The OLED industry is a major driver for Coherent's business.
- OLED display makers: There are several OLED display makers, and most of them are public companies are are held by public companies: Samsung Display (held by Samsung Electronics), LG display, Visionox, BOE and others.
- OLED equipment makers: There are several public equipment companies (for Coherent) that offer OLED production systems or components. These companies could be a good investment opportunity to investors who believes a new wave of OLED capacity expansion is near.
LG Display officially sells its last two LCD fab in China to TCL CSoT
As we reported last month, TCL CSoT officially announced that it has agreed to buy LG Display's last LCD production line in Guangzhou, China, for $1.5 billion (10.8 billion Yuan).
TCL CSoT will acquire 80% of LG Display's 8.5-Gen LCD production line, and 100% of its LCD module line in Guangzhou. The two companies plan to complete the deal by the end of March 2025. LG's LCD production line has a capacity to produce 180,000 TV panels per month, most of these sized 55" and up (about 6% of the total LCD panel market), and had a net profit of $85 million last year over $900 million in revenues. The module factory can produce 2.3 million units per month. The two factories serve customers such as Samsung Electronics, LG Electronics, Skyworth, and more.
UDC announces support for organic electronics innovation with the new Sherwin I. Seligsohn Innovation Award
Universal Display Corporation announced the establishment of a new award, the Sherwin I. Seligsohn Innovation Award in honor of UDC’s late founder. Through this award competition, UDC seeks to support and celebrate organic electronics innovation.
The aware amount is $75,000 and researchers can now submit their research (submissions will be accepted until June 302025). The award is open to individuals and teams from around the world, and is also open for both academic and non-academic groups that are pushing organic electronics innovation in new and exciting ways. The theme of the 2025 award is organic photovoltaics or solar (OPVs).
BOE, Tianma, TCL CSoT, EDO and Visionox all post improved quarterly earnings
Recently, BOE, Tianma, TCL, EDO and Visionox all posted their financial results for Q2 2024, and all were rather positive. Samsung Display and LG Display also posted increased earnings for the quarter.
So we start with BOE, that posted revenues of 93.4 billion yuan (13.17 billion USD) for the first half of 2024, an increase of 16.47% over H1 2023. Its net profit increased 210% compared to last year (2.285 billion Yuan, or $320 million USD). BOE enjoyed increased LCD sales and optimized production, and also noted high demand for high-end foldable OLED displays.
Visionox shares more details on its upcoming 8.6-Gen IT AMOLED line in Hefei, construction will begin towards the end of 2024
In May 2024, Visionox announced its plan to build a new AMOLED production line, targeting the IT display market - laptops, monitors and tablets. The company said that it will best 55 billion Yuan (around $7.6 billion USD) to build a 8.6-Gen production line in Hefei, Anhui province, with a monthly capacity of 32,000 substrates.
Yesterday Visionox shared some more details about its project and plans. The company will build the new fab with support from two local government-owned firms, both of which are partners at Visionox's existing 6-Gen AMOLED line in Hefei. In the first step for this new project, the three partners (Visionox and the new government firms) will invest a total of $282 million USD. Visionox will only hold 20% of the JV.
Coherent received the first volume order for a 8-Gen OLED laser annealing system
Photonics-based solutions provider Coherent announced their financial results for Q2 2024, with revenues of $1.3 billion, a 9.1% increase over 2023. The rise in revenues is mostly thanks for strong demand for the company's AI-related datacom transceiver business.
As part of the quarter results announcements, Coherent also announced that it received its first volume order for its new linebeam annealing systems for 8-Gen AMOLED fabs, used to produce IT displays for tablets, laptops and monitors.
Universal Display reported its financial results for Q2 2024, saying its blue PHOLED project takes longer than expected
Universal Display Corporation reported its financial results for Q2 2024, with revenues of $159 million (up 8% from Q2 2023 and a net income of $52 million (up from $50 million in Q2 2023). The company ended the quarter with $879 million in cash and equivalents.
UDC says it believes the OLED market's trajectory is robust, and it is raising the lower end of its annual guidance, now saying that its revenues will be in the range of $645 million to $675 million.
Samsung Display reports increased demand for mobile AMOLEDs and gaming monitors in Q2 2024
Samsung Display posted its financial results for Q2 2024, with $5.5 billion in sales and $730 million in operating profit. The company says that its mobile AMOLED unit have seen sales growth, driven by solid demand for flagship products, along with effectively supporting new smartphone launches from key customers (i.e. mostly Apple).
SDC also saw increased sales of both IT OLEDs (mostly tablets and laptops), and gaming monitor panels. The company reported stable sales of QD-OLED TV panels.
Everdisplay starts installing equipment in its $825 million AMOLED module factory in Yangzhou
A few days ago, Everdisplay Optronics started to move-in equipment in its AMOLED module factory in Yangzhou High-tech Industrial Development Zone, in Jiangsu province.
Everdisplay estimates that the total investment in its new module factory will reach $825 million USD, and it will have an annual capacity of 70 million display modules - when its two lines are in operation. The construction of the factory started in December 2023.
LG Display reported its Q2 2024 financial results, boosted by tablet AMOLED shipments to Apple
LG Display reported its financial results for Q2 2024 - with revenues reaching $4.85 billion (an increase of 42% compared to last year) and a net loss of $67 million (down from around $637 million in 2023).
LG Display benefited greatly from Apple's introduction of its 2024 iPad pro tablets, for which LGD is the main AMOLED supplier. The company is also expecting to sell a record number of iPhone AMOLED panels later this year. LGD says that the proportion of OLED products rose 10% of its total sales, reaching 52% - which means that OLED is now the company's main product line in terms of revenues.
DSCC: the OLED materials market to grow 24% in 2024, will reach $2.7 billion by 2028
DSCC says that the OLED materials market will reach $2.12 billion in 2024, rising 24% over 2023. The market will continue growing at a 6% CAGR until 2028, reaching about $2.7 billion. DSCC details the revenue split between single-stack, tandem and multi-stack panels, saying that materials used in tandem OLED panels will grow at a fast rate of 30% CAGR from 2024-2028.
The leading materials makers by revenue in 2024 will be UDC, DuPont, LG Chemical and Samsung SDI, holding a market share of 51% together. DSCC says that Chinese materials makers will increase their market share in the future.
