OLED driver IC developer MagnaChip announced its financial results for Q4 2020, with revenues of $142.9 million and 2020 full-year revenues of $507.1 million. The company says its quarterly revenues reached a record high of $80.4 million - a 19% increase from Q3 2020 and a 19.4% increase from Q4 2019.Full-year OLED revenue of $284.6 million increased 6.5% from 2019.
Last year MagnaChip said it has a total of 16 OLED display drivers, almost double the number of drivers it had in its portfolio in Q1 2019. The company has started to develop OLED drivers for automotive products, which the company expects to to into production in the first half of 2021.
IN 2019 MagnaChip started producing its new 28-nm driver and the company also announced that it has surpassed the 500 million milestone in cumulative shipments of OLED display driver ICs. MagnaChip introduced its first OLED driver in 2003 and began mass production, using the 150-nanometer (nm) process, in 2007.