eMagin announces its financial results for Q2 2019

OLED microdisplay maker eMagin reported its financial results for Q2 2019. Revenues were $5.4 million, down from $7.1 million a year ago and eMagin had an operating loss of $2.9 million (down from $3.6 million in Q2 2018). At the end of the quarter eMagin had $3.7 million in cash and equivalents.

eMagin XGA096 OLED-XL photo

eMagin says that the second quarter of 2019 was a challenging one for the company, as deliveries were impacted by continuing production issues and revenue and profitability fell short of expectations. The company is taking several actions to address the shortfall and are seeing early signs of progress. The company's backlog remains strong, at $11.6 million (an increase of approximately $1 million over the backlog of $10.6 million at December 31, 2018).

Doosan to spin-off its OLED materials business

Korea-based Doosan Corp is planning to spin-off its OLED materials unit. The company's shareholders approved the plan. The new company will be called Doosan Solus, and will list on the Korean stock market on October 1st.

Doosan Solus will take over Doosan's OLED materials unit, which produce host materials for OLED displays. The company will also produce battery foil materials and bio components used in cosmetics and pharmaceuticals.

Visionox announces plans to establish a $1.6 billion AMOLED module factory in Guangzhou

China-based OLED producer Visionox announced plans to establish a flexible and foldable OLED module factory in Guangzhou, China. Together with the local government, Visionox plans to invest 11.2 billion Yuan (around $1.6 billion USD) in this new factory.

Visionox 6-Gen flexible AMOLED fab (Hebei, China)

Visionox did not provide any time frame for this new fab. The company is currently operating a 6-Gen AMOLED production line in Hebei (with a monthly capacity of 30,000 substrates) and has announced plans to establish a similar flexible OLED line in Hefei in a $6.3 billion investment.

Korea will invest $6.5 billion to lower its dependence on Japanese imports

The South Korean government says it will spend around $6.5 billion in the next five years to help the local materials, components and equipment sectors and lower its dependence on Japanese imports. This follows Japan's government decision to restrict some material exports, including fluorinated polyimide, to South Korea, following a diplomatic tension between the two countries.

Korea hopes to ensure a stable supply of 100 strategic items (selected from a list of 1,100 industrial items that are imported mostly from Japan) and will assist local R&D activities, lower import barriers and reach out to suppliers in other countries. Korea mostly aims to protect its chips, displays, cars, electronics, equipment and chemicals industries.

Universal Display reports excellent quarterly results and increases its guidance for 2019

Universal Display reported its financial results for Q2 2019. Revenues were $118.2 million, the operating profit reached $48.7 million and net income was $43.4 million. UDC increased its 2019 revenue guidance to be in the range of $370 million to $390 million. The company ended Q2 with $553 million in cash and equivalents.

UDC PHOLED materials photo (2017)
The Q2 results include about $15-20 million of orders that UDC estimates were pulled-in from the second half of 2019 as Chinese customers build up inventory for trade-related reasons.

Riber, Coherent and Cognex post clashing views on the 2020 OLED market rebound

2019 is shaping up to be a dramatically-low investment year for the OLED industry. DSCC for example expects that the market will fall 88% in 2019 compared to 2018. Two companies reported their financial results this week, with interesting notes about the OLED market.

First up is France-based effusion cells and sources producer Riber. The company reported that H1 2019 revenues in its evaporator business fell from €10.4 in H1 2018 to only €1 million. The sharp decline is linked to the "freeze on investments in OLED screen production equipment following the major investments made in previous years".

Novatek Microelectronics expects its AMOLED driver IC shipments to double

Taiwan-based driver IC developer Novatek Microelectronics says that it expects shipments of AMOLED drivers will double from 3 million in Q1 2019 to 6 million in Q2 2019.

Novatek reported its financial results, saying that its last quarter was the best one in 11 years, as profits grew 34% from last year to $68.5 million. Growth at Novatek is fueled by strong demand for OLED drivers and TDDI chips.

LG Display reports its Q2 2019 results, to invest a further $2.5 billion in its P10 OLED TV fab

LG Display announced its unaudited financial results for Q2 2019, and updated on its upcoming OLED projects.

LGD P10 OLED fab, Paju Korea (March 2019)

First of all, LGD announced an additional investment of KRW 3 trillion ($2.5 billion) P10 10.5-Gen OLED TV fab in Paju. Last month it was reported that LG display has started to install some of the Oxide-TFT deposition equipment (supplied by Applied Materials and Jusung Engineering). The mass production at the first lines in the P10 fab is expected to begin in 2021. LG Display did not disclose any more details regarding this new $2.5 billion investment plan yet.

The DoE grants $1 million to OLEDWorks for flexible OLED lighting R&D

The United States Department of Energy (DoE) granted $1.05 million for OLEDWorks, allocated through the DoE's Small Business Innovation Research (SBIR) program. The funds will be used to further improve efficiency and lower the costs of flexible OLED lighting panels, which will help reduce energy consumption while simultaneously providing healthier, unique lighting solutions that are cost competitive in the main stream lighting markets.

OLEDWorks Lumicurve Wave photo

In November 2018 OLEDWorks announced that its first flexible OLED lighting panels are now commercially available. The OLEDWorks LumiCurve Wave are produced on Corning's 0.1mm thin Willow Glass flexible glass substrates. OLEDWorks says that the Wave panels are extremely thin and light and deliver the superb light quality and excellent color rendering that is uniquely achievable with OLED.

Japan Display formally secures $740 million for its OLED restructuring plan

Japan Display (JDI) announced that it has finally secured the 80 billion Yen (around $740 million) bailout plan. The large investment will come from the China-based Harvest Group, Hong Kong-based activist investor Oasis Management and an unnamed JDI customer - which is likely to be Apple.

Japan Display says that it plans to hold a shareholders meeting on August 29th to formalize the bailout plan.

The 4th International TADF Workshop 2019The 4th International TADF Workshop 2019