Taiwan's RiTDisplay, one of the world's leading PMOLED makers, is reportedly seeing strong demand for its OLED displays. According to a new report, the company's revenue reached $31.2 million in the first half of 2016, up 40% over the first half of 2015.

The company is also enjoying higher profits - and in fact the profit in the first half of 2016 may pass the profit from the whole year 2015. PMOLED is seeing a rising demand in wearable devices - and other emerging applications.

RiTDisplay is planning to expand its production capacity by 20%. The company has filed for an IPO in Taiwain, and plans to be listed in the emerging stocks market in Taiwan by the end of 2016.

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