US-based OLED inkjet printing developer Kateeva announced a massive layoff plan - the company will slash its staff by 144 employees, including a number of executives - its president, CMO and COO.
This is sad news - and surprising as well as Kateeva seems to be on the forefront of OLED inkjet printing. Kateeve raised over $125 million (including $88 million in 2016) and is working with Samsung, BOE, LG, Johua Printing and other companies. The company is leading with ink-jet printing of OLED encapsulation materials and was set to supply Samsung with the QD printing equipment for SDC's upcoming QD-OLED TV line.
According to Andrew M. Abrams from Supply Chain Market Research, Samsung decided to adopt different QD ink-jet printing tools from Korea-based SEMES instead of Kateeva. Kateeva was banking on Samsung's orders and the loss of that business is the main reason behind the recent layoffs.
According to Andrew Kateeva is set to receive a new investment from Chinese investors - and as part of that deal the company's focus will shift sharply to support Chinese companies in their drive towards OLED encapsulation ink jet printing, to the point where OLED material printing deposition will no longer be developed at Kateeva.