China-based OLED maker Visionox reported good preliminary financial results for 2020, with increased sales and improved revenues and profits. The company expects its net profit to be around 141-210 million Yuan ($21-31 million USD), which will represent an increase of 120-227% over 2019.
The company says that its ability to innovate OLED technologies (specially the world's first OLED with an under-the-screen camera and the world's first 144Hz refresh rate OLED) enabled the company to increase its customer base and in 2020 it has added OPPO and Motorola as customers.
According to reports from China, Visionox is close to receive large OLED orders from Huawei and Honor for AMOLED smartphone panels. Huawei is looking to order 5 million panels and Honor around 10 million.
In December 2020 Visionox lighted up its 6-Gen flexible OLED production line in Hefei, Anhui, China. Visionox's new production line (its second 6-Gen line) will have a monthly capacity of 30,000 1500x1850 mm substrates, similar to the company's first line in Hebei. Total investment in the new production line will be $6.3 billion.