OLED driver IC developer MagnaChip announced its financial results for Q1 2020. OLED DDIC revenue was $69.7 million, up 43.6% from last year and up 3.5% from last quarter. The company estimates that 8 new smartphones that adopt its OLED drivers were released in Q1 2020, and 9 just entered pilot production.
MagnaChip 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.