China-based Visionox was founded by Tsinghua University and other investors in 2001 with an aim to develop and manufacture OLED display and lighting panels.
Visionox produces AMOLED displays, since 2015, and the company has four productions line:
- Gen-5.5 rigid line in Kunshan (V1)
- Gen-6 flexible line in Hefei (V2)
- Gen-6 flexible line in Hebei (V3)
- Gen-6 flexible line in Guangzhou (V4)
In 2024 Visionox announced it will invest $7.6 billion USD to build a 8.6-Gen production line in Hefei, targeting IT AMOLED applications.
In 2015 Visionox spun-off its OLED lighting business into a separate company called Yeolight Technology. In 2021 Visionox spun-off its PMOLED business to Qingyue.
Visionox produces a wide range of AMOLED displays. The company is also actively developing microLED technologies via its Vistar subsidiary.
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The US is looking into backlisting both BOE and Tianma as it fears that China is taking over the display industry, we look into the implications
The Chairman of the US House Select Committee on the Chinese Communist Party, John Moolenaar, sent a letter to the US Secretary of Defense, saying that the US should place both BOE and Tianna on the DoD 1260H blacklist as Chinese military companies.
In his letter, Mr. Moolenaar says that by using government support, the Chinese has taken over the display industry, and are already leading both the LCD and OLED markets (which is indeed mostly true). As these two companies have close ties to the Chinese government and military, this, according to the letter, poses a big risk to US and its allies.
Yeolight confirms it is the OLED lighting supplier for Voyah's Zhiyin
Last month China-based Voyah announced a new international all-electric SUV called the Zhiyin, that includes several innovative technologies. The taillights of the car are OLED lighting based, with 33 individually controlled OLED units on both the upper and lower sections, creating unique light patterns. We assumed that Yeolight is the OLED panel supplier, and indeed now the company confirmed that.
In addition to the OLED taillights, the Zhiyin will also an AMOLED display - a "curved sliding screen" that can "slide to accommodate different user needs". While this is not confirmed, we assume that this is a similar display to the one Hongqi just revealed yesterday - a sliding rollable 14.2" AMOLED panel produced by Visionox.
Hongqi launches the 2025 Guoya luxury sedan, with the first sliding automotive OLED display
China's Hongqi launched its latest luxury executive sedan, the Guoya (国雅), as part of the Hongqi Golden Sunflower series. The model was previously known as the HongqiL1.
The Hongqi Guoya adopts a 14.2" rollable (sliding) AMOLED display for the center multimedia display. This is the first time such an automotive sliding AMOLED display is produced commercially (and the only second rollable screen following LG's 2020 rollable 65" OLED TV which is now discontinued). The AMOLED display is produced by Visionox, and we know that it adopts an Ultra-Thin-Glass cover. Visionox says that the display weights less than 250 grams, and it has been tested for over 200,000 cycles.
BOE, Tianma, TCL CSoT, EDO and Visionox all post improved quarterly earnings
Recently, BOE, Tianma, TCL, EDO and Visionox all posted their financial results for Q2 2024, and all were rather positive. Samsung Display and LG Display also posted increased earnings for the quarter.
So we start with BOE, that posted revenues of 93.4 billion yuan (13.17 billion USD) for the first half of 2024, an increase of 16.47% over H1 2023. Its net profit increased 210% compared to last year (2.285 billion Yuan, or $320 million USD). BOE enjoyed increased LCD sales and optimized production, and also noted high demand for high-end foldable OLED displays.
Visionox shares more details on its upcoming 8.6-Gen IT AMOLED line in Hefei, construction will begin towards the end of 2024
In May 2024, Visionox announced its plan to build a new AMOLED production line, targeting the IT display market - laptops, monitors and tablets. The company said that it will best 55 billion Yuan (around $7.6 billion USD) to build a 8.6-Gen production line in Hefei, Anhui province, with a monthly capacity of 32,000 substrates.
Yesterday Visionox shared some more details about its project and plans. The company will build the new fab with support from two local government-owned firms, both of which are partners at Visionox's existing 6-Gen AMOLED line in Hefei. In the first step for this new project, the three partners (Visionox and the new government firms) will invest a total of $282 million USD. Visionox will only hold 20% of the JV.
UBI Research: OLED tablet shipments to jump over 500% in 2024 to reach 12 million units
UBI Research estimates that 12 million OLED tablet panels will ship in 2024, and increase of over 500% from 2023 (1.84 million units), following Apple's adoption of OLEDs in its iPad Pro devices for the first time.
UBI sees the tablet OLED display market continuing to grow, and is expected to reach 30 million units in 2028. The current market leaders are Samsung Display and LG Display, but other display makers are also targeting this market, with BOE aiming to ship 1.5 million OLED tablet panels in 2024, and Visionox around 800,000 units.
Visionox completed the construction of its $1.6 billion 6-Gen flexible OLED module factory in Hefei
In 2022, we reported that Visionox announced plans to build a new $1.6 billion flexible 6-Gen OLED module production line in Hefei.
According to a new report from China,the company's construction partner, China Construction First Engineering Bureau, has finished the fab construction, that has passed the completion acceptance. It's not clear what is Visionox's timeline and plans to ramp up the fab and begin actual module assembly, but this is an important milesetone for Visionox's project.
DSCC details the display industry's capital spending on equipment from 2020 to 2027
DSCC says that display makers are increasing their OLED CapEx investment as demand for OLED displays is on the rise. DSCC has raised its forecast for OLED spending by 14% compared to their previous update, while they retain their previous forecast for LCD, OLED microdisplay and microLED display equipment spending.
Between 2020 and 2027, OLED display makers will invest $44 billion in new production equipment. The spending on OLED equipment will keep growing year after year from 2023 to 2027, reaching $6.5 billion in 2027, as OLED penetration in the smartphone, tablet and laptop market is increasing, and fab utilization is increasing too, encouraging display makers to add capacity.
Visionox developed the world's first AMOLED driver IC with embedded RRAM
Visionox announced that together with Sunrise Display Microelectronics and Hefei Reliance Memory it has developed the world's firs AMOLED device driver that is powered by RRAM memory.
All AMOLED drivers on the market use a combination of SRAM memory, OTP (one-time programmable memory) and external Flash memory (for non-volatile memory), mostly to perform the Demura compensation function. The RRAM memory enables lower cost of production, higher efficiency - and smaller area.
Omdia: shipments of OLEDs over 9-inch in size will soar 124% in 2024
According to Omdia, sales of OLED panels in sizes over 9-inch (the company refers to these as Large Area Displays) will increase 124.6% in 2024. In 2023, the market contracted 25.7%, with the only exception being OLED monitor panels that grew in shipments.
In 2024, Omdia says that all application areas will see an increase in shipments - TVs, monitors, tablets and laptops. Only the company's "other" category will see a decrease in sales. In particular, tablet OLED shipments are projected to increase by 294% compared to 2023, largely due to Apple's adoption of OLEDs in the 2024 iPad Pro tablets. Laptop OLED sales will increase 152.6%, and monitors OLEDs will increase 139.9%. Finally, OLED TV panel shipments will increase 34.8%.
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