MagnaChip announced its Q3 2018 financial results -with revenues of $206 million, and an operating income of $18.3 million. MagnaChip's OLED display drive revenues reached $58.3 (up 232.2% from Q3 2017) and are on track to set a revenue record in 2018 (MagnaChip best ever OLED year was in 2016 with $161 million in revenues).
During the quarter, six smartphones with MagnaChip's OLED drivers were launched (as expected) and the company continued to win several new designs for smartphones in Asia.
In May 2018 Magnachip launched its 3rd-generation 40-nm OLED display driver (DDIC) that supports edge-type displays, 21:9 and bezel-less displays and notch-type OLEDs. The company later announced that it is developing a new flexible OLED display driver based on the company's ultra-low power 28-nanometer process.