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1Q of 2022 OLED Emitting Material Market $420 million, up 9% Compared to the Same Quarter of the Previous Year

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According to “2Q22 OLED Emitting Material Market Track”, a quarterly report published by UBI Research, the sales of emitting materials in the first quarter were $421 million, down 21.1% (QoQ) from $533 million in the previous quarter but was an increase by 9% (YoY)when compared to $386 million in the first quarter of 2021.
Although sales of emitting materials for TV and mobile devices decreased compared to the previous quarter, IT sales recorded a meaningful figure of $6.6 million. Although sales fluctuate depending on seasonal demand for applied products, if the sales of emitting materials are analyzed by application product, TV use is gradually increasing.

The top 3 companies in 1Q sales were UDC($86.6 million), DuPont($41.3 million), and Duksan($37.5 million). Duksan became the number one company in sales as a Korean company. The overall sales of luminescent materials in the first quarter decreased compared to the previous quarter but only UDC’s sales increased. Sales decreased to $421.5 million in 1Q22 from $533.8 million in 4Q21. However, UDC’s 1Q22 sales increased to $86.6 million from 4Q21’s sales of $85.5 million. It is estimated that this is due to the rise in the price of rare earth metals, a key material for manufacturing dopant.
Estimated sales of emitting materials in 2022 are $1.77 billion and are expected to grow to $2.4 billion in 2026.
By application product, the projected sales of emitting materials for smartphones this year are $1.4 billion, accounting for 79% of the total.
Of the projected sales in 2026, emitting materials for TV are expected to reach $550 million, which is expected to increase by 23%. In addition, emitting materials for IT are expected to account for 9% of $210 million.

“OLED Emitting Material Market Track” surveys and analyzes the market for quarterly OLED emitting materials. The total market of light emitting materials was identified by examining sales by light emitting layer and common layer. Performance analysis was categorized by country, panel maker, application product, layer, and OLED method (RGB, WRGB, QD-OLED). In addition, OLED market information for the next five years (up to 2026) was forecasted by predicting the amount of emitting material usage and sales by company. The quarterly market track provides necessary information to industry professionals who lead the OLED industry.

Chinese OLED smartphones released in 2021, 62% increase compared to 2020

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Of the total 226 OLED smartphones released in 2021, China released 175. This is an overwhelming 77.4% share in the market. Korea released 20, which is half of the 39 in 2020. The United States released 16 and other countries released 15.

By size, there were 218 products in the 6-inch range, accounting for 96.5% of the market share, indicating that 6-inch products have established themselves as mainstream. In addition, 3 products in the 8-inch range, 2 products in the 5-inch range and 7-inch range, and 1 product in the 4-inch range were released. All 7-inch and larger products were foldable.

By display design, the punch hole model was released at an overwhelming 173, followed by the notch model at 31, the narrow-bezel model at 15, the under display camera (UDC) and pop-up camera at 3 models each, and 1 product with a home button was released.

Finally, in the display area (D.A), which is the display area to the size of the smartphone, 194 products belonging to 80-90% accounted for 85.8% of the product, 29 products above 90% and 1 product under 80% were released. The home button is now gone, the notch design is reduced, and the average D.A. has increased due to the continuous launch of full-screen smartphones. The product with the highest D.A was 94.9%, which occupies the Honor’s Magic3 series.

 

 

UDC, 2017 Total Revenue US$ 335.6 Million and Operating Income US$ 146.2 Million

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UDC announced through its press release that the total revenue in Q4, 2017 increased 55% to US$ 115.9 million, compared to the same period of the previous year. In addition, the revenue from material sales increased 105% to US$ 59.8 million in the fourth quarter, compared with US$ 29.2 million in the fourth quarter of 2016.  Operating income increased by US$ 23.1 million to US$ 57.9 million in the fourth quarter, compared to the same period of 2016.

UDC recorded a tremendous growth in 2017. UDC’s revenues in 2017 totaled US$ 335.6 million, up 69% YOY, driven by higher material sales as well as royalty and license fees. Operating income increased by US$ 77.8 million to US$ 146.2 million in 2017, up 114% YOY.

UDC estimates that revenue in 2018 will be about US$ 350M ~ US$ 380M. This might reflect the lower shipments of iPhoneX than expected and the low utilization rate of Samsung Display. Meanwhile, UDC anticipates to see an another significant growth in 2019 because of the increase in OLED production area (about 50% increase is projected by the end of 2019).

UDC said on February 14, 2018 that it signed a contract with Samsung Display for OLED royalty. The contract period was known as until the end of 2022, and the other terms of the contract were not disclosed to the outside.

UDC, 2017년 총 수익 335.6M US$와 순이익 103.9M US$ 기록

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UDC는 보도자료를 통해 2017년 4분기 매출이 전년 동기 대비 55% 증가한 115.9M US$를 기록했다고 밝혔다. 또한, 재료 매출은 2016 년 4 분기 29.2M US$에서 105 % 증가한 59.8M US$이며 영업이익은 2016 년 4 분기 대비 23.1M US$ 증가한 57.9 M US$이다.

UDC는 2017 년 엄청난 성장을 이루었는데, UDC의 2017 년 매출은 재료 매출 증대와 더불어 로열티 및 라이센스 수수료 수입 증대로 전년 대비 69 % 증가한 335.6 M US$를 기록했다.  2017 년 영업 이익은 77.8 M US$ 증가한 146.2 M US$로 전년 대비 114% 상승했다.

UDC는 2018 년 매출액을 350M US$ ~ 380M US$에 이를 것으로 전망하고 있다. 이는 iPhone X의 예상보다 낮은 출하량과 Samsung Display의 낮은 가동률을 감안한 것으로 보인다.  한편, 2019년에는 OLED 생산 면적의 증가 (2019년 말까지 약 50% 증가 예상)로 또 다시 가파른 성장을 기록할 것으로 예상했다.

UDC는 지난 14일 Samsung Display와 OLED 로열티 재계약을 채결하였다고 밝힌 바 있다. 계약기간은 2022년 말로 알려졌으며 구체적인 계약 조건은 외부에 공개되지 않았다.

Visionox, UDC와 OLED 평가 계약 발표

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UDC(Universal Display)는 Visionox가 OLED 평가 계약에 서명했다고 발표했다. 이번 계약에 따라 UDC는 Visionox에 디스플레이 어플리케이션용 인광 OLED 발광 재료를 공급할 예정이다. 계약의 세부 사항이나 금액 등은 밝혀지지 않았다.

2008년 중국 최초로 PMOLED를 양산한 Visionox는 2015년 2분기에 Kunshan에서 Gen5.5 Rigid OLED 양산 라인을 가동하였다. 지난 2017년 10월에 열린 IMID 2017 비즈니스 포럼에서 Visionox의 Xiuqi Huang 박사는 2018년 2분기에 Guan에서 Gen6 flexible OLED 양산 계획과 flexible OLED 개발 로드맵 등을 밝히기도 하였다.

<Visionox의 OLED 라인 현황>

Xiuqi Huang 박사는 ”2018년부터 2020년까지 6 inch에서 8 inch 급의 스마트폰용 full screen OLED와 foldable OLED 개발을 목표로 하고 있다”며, “2021년 이후부터 6 inch에서 12 inch 급의 스마트폰용과 노트북, 자동차용 flexible OLED 개발 할 예정이다”라고 언급하였다.

<Visionox의 flexible OLED 제품 로드맵>

Visionox, announced OLED evaluation contract with UDC

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UDC (Universal Display) announced that Visionox has signed an OLED evaluation contract. Under the agreement, UDC will supply Visionox with phosphorescent OLED emitting materials for display applications. Details of the contract such as the amount were not disclosed.

Visionox, which had produced the first PMOLED in China in 2008, started the operation of Gen5.5 rigid OLED mass production line in Kunshan in Q2 2015. At IMID 2017 Business Forum held in October 2017, Dr. Xiuqi Huang of Visionox revealed his plans for mass production of Gen6 flexible OLED and flexible OLED development roadmap in Guan in Q2 of 2018.

<Visionox, OLED Line Status>

Dr. Xiuqi Huang said that “from 2018 to 2020, we aim to develop full-screen OLEDs and foldable OLEDs for smart phones ranging from 6 to 8 inches.”  Also he commented that “from 2021, we will develop 6 inch to 12 inch smart phones, notebooks and automotive flexible OLEDs.”

<Visionox, Roadmap for flexible OLED products>

UDC, 로열티와 라이센스 비용으로 2017년 2분기 총 매출액 59% 증가

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UDC(Universal Display Corporation)은 현지시간으로 8월 3일, 2017년 2분기 재무 실적을 발표했다.

UDC의 총 매출액은 6,440만 달러였던 2016년 2분기 대비 59% 증가한 1억 2,500만 달러를 기록했으며 재료 매출액은 110% 증가한 4,680만 달러를 기록했다고 언급했다. 또한, 로열티 및 라이센스 비용의 수익은 28% 증가한 5,370만 달러이며 영업 이익은 2,650만 달러가 증가한 6,050만 달러, 당기 순이익은 2,540 달러에서 4,720만 달러로 증가했다고 밝혔다.

UDC는 로열티와 라이센스 비용으로 인해 총 매출액이 증가했으며 청색과 녹색 등의 인광 발광 물질 판매 증가로 재료 매출액이 증가했다고 밝혔다.

OLED 시장이 성장함에 따라 OLED 재료 시장도 커져 UDC의 실적성장으로 이어진 것으로 풀이된다. 유비리서치의 ‘2017 OLED Emitting Materials Market Report’에 따르면 전세계 OLED 발광재료 시장은 2017년 9.6억 달러 규모를 형성할 것으로 예측했으며, 2021년까지 연평균 성장률 37%를 기록하여 2021년에는 33.6억 달러 규모를 형성 할 것으로 전망했다.

 

<발광재료 전체 시장 전망>

UDC, whose total revenue increases by 59% in Q2 2017 with royalty and license fees

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UDC(Universal Display Corporation) has announced the financial performance of the 2nd quarter of 2017 as of Aug 3rd.

UDC’s total revenues in the second quarter of 2017 has been recorded as US $125millon, increased by 59 percent, compared to that of the previous year, US $ 64.4 million. Material sales has been also increased by 110 percent to $ 46.8 million; the profit from royalties and license fees increased by 28 percent to $ 53.7 million; $ 26.5 million was contributed to the operation profit to make US $ 60.5 million, and net profit for this term has been increased from US $ 2,540 to US $ 47.2 million.

The UDC has seen its total revenue contributed by royalty and license fees and the material revenue by the increase in sales of blue and green phosphorescent materials.

As the OLED market grows, the OLED material market co-prospers, leading to business growth of UDC. According to 2017 OLED Emitting Materials Market Report of UBI search, the global OLED emitting materials market shows great prospects with the market size worth $ 960 million in 2017, and it is anticipated to reach the annual average growth rate 37%, enlarging the market size as $ 3.36 billion by 2021.

<Market Forecast of Emitting Materials>

UDC Introduced Organic Vapor Jet Printing That Keeps the Life time and Efficiency of OLED Emitting Material

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Mike Hack, vice president of UDC introduced solution process technology, OVJP (Organic Vapor Jet Printing) technology during the COLOR IS UNIVERSAL Session of “The 3rd OLED KOREA CONFERENCE” hosted by UBI Research.

Mike Hack emphasized “OVJP technology can still use OLED materials used for the deposition process unlike the existing ink-jet solution process, and FMM and solvent are unnecessary”.

Besides, he introduced UDC’s Novel BY Display Architecture. According to his announcement, this structure has increased the mask opening size for one-time 2 pixel deposition. Also, Novel BY Display Architecture features the alternate deposition of blue and yellow sub pixels instead of existing RGB, and red and green CF in half of yellow sub pixel is arranged in a vertical symmetrical fashion.

Mike Hack said “This structure maximized not only the fill factor of blue and yellow sub pixel but also the color reproduction rate, efficiency and life time of OLED panel”. He also mentioned it can reduce manufacturing costs due to the use of less than 3data per pixel and 2-step EML deposition(FMM).
Lastly, UDC closed its announcement adding that they aim at the development and commercialization of PH emitter and host.

Meanwhile, according to “Market Entry Analysis for Solution Process OLED” by UBI Research, the emitting material used for the ink-jet solution process employs a method of mixing various solvents in an emitting material used for the deposition process. It lowered the purity of a materials, thereby reducing emitting efficiency and life time. Despite this advantage, solution process can increase the usage efficiency of emitting materials without using color filter and manufacture large-screen OLED panels via RGB pixel structure without panel split through over Gen8 equipment. Due to this advantage, major panel companies are actively developing it and trying to achieve the preoccupancy of commercialization.

UDC, OLED 발광 재료의 수명과 효율이 저하되지 않는 Organic Vapor Jet Printing 소개

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UDC 부사장인 Mike Hack은 유비산업리서치가 주최한 “제 3회 OLED KOREA CONFERENCE의 COLOR IS UNIVERSAL 세션에서 solution process 기술인 OVJP (Organic Vapor Jet Printing) technology를 소개하였다.

Mike Hack은 “OVJP technology는 기존의 ink-jet 방식의 solution process과는 달리 증착공정에서 사용하는 OLED 재료들을 그대로 사용할 수 있으며, FMM, solvent가 필요가 없다”고 강조했다.

이 외에도 UDC가 개발한 Novel BY Display Architecture를 소개했다.
발표에 따르면, 이 구조는 한 번에 2 pixel을 증착 하고자 mask opening size 증가시켰다. 또한, Novel BY Display Architecture는 기존 RGB방식 대신 blue와 yellow sub pixels을 번갈아 가며 증착하고, yellow sub pixel의 절반에는 red와 green CF를 상하 대칭 배열하는 것을 특징으로 한다.

Mike Hack은 “이 구조를 통해 blue와 yellow sub pixel의 fill factor를 최대로 증가시키고 OLED panel의 색재현율 증가와 효율, 수명을 극대화했다”고 말했다. 이 밖에 pixel 당 3data 미만의 라인을 이용, EML 증착(FMM이용)도 2단계로만 이루어져 제조 비용 절감이 가능한 장점이 있음을 언급했다.

마지막으로 UDC는 PH emitter와 host를 개발 및 상용화를 목표로 하고 있음을 덧붙이며 발표를 마쳤다.

한편, 유비산업리서치의 “Solution Process OLED 시장 진입가능성 분석 보고서”에 따르면 ink-jet solution process에 적용되는 발광재료는 증착 공정에 사용되는 발광재료를 다양한 solvent를 섞어 ink화 하는 방식이다. 이는 재료의 순도가 낮춰 발광 효율과 수명이 저하시키는 단점이 있었다. 그럼에도 solution process는 color filter를 사용하지 않고, 발광재료의 사용 효율을 증가시킬 수 있으며, 대면적 OLED panel을 Gen8 이상의 장비에서 원장 분할 없이 RGB pixel 구조로 제조할 수 있는 장점이 있어 주요 패널 업체에서 적극적인 개발과 상용화 선점 시도가 활발히 이루어지고 있다.

 

UDC Announces Q2 2016 Financial Results

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Source = UDC

Source = UDC

Hyunjoo Kang / jjoo@olednet.com

Universal Display Corporation( UDC ), enabling energy-efficient displays and lighting with its Universal PHOLED technology and materials, today reported financial results for the second quarter ended June 30, 2016.

For the second quarter of 2016, the Company reported net income of $21.8 million, or $0.46 per diluted share, on revenues of $64.4 million. This includes $1.8 million of currency exchange loss related to the BASF OLED patent acquisition. For the second quarter of 2015, the Company reported a net loss of $11.8 million, or $0.25 per diluted share, on revenues of $58.1 million. The 2015 net loss reflected a $33.0 million write-down of inventory, primarily of an existing host material and associated work-in-process. Excluding this item and its associated $1.9 million reduction of income tax expense, adjusted net income for the second quarter of 2015 was $19.4 million, or $0.41 per diluted share (see “reconciliation of non-GAAP Measures” below for further discussion of the non-GAAP measures included in this release).

“Our second quarter 2016 revenues and net income increased year-over-year, and we maintained our strong margin profile. We are confident that the underlying growth fundamentals of our long-term outlook remain robust, but near-term, we expect our revenue growth will be delayed by about six months,” said Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of Universal Display.

Rosenblatt continued, “We expect strong revenue growth in 2017. At that time, new OLED production from the multi-year capital expenditure cycle is slated to start contributing to our revenues. Ahead of this wave of high-volume capacity, we have been working to expand and broaden our team and core competencies to advance our strategic initiatives and increase our competitive edge. We expect these initiatives, along with new OLED capacity, coupled with our pipeline of new materials, new technologies and new agreements, to bolster our long-term growth plan.”

Financial Highlights for the Second Quarter of 2016

The Company reported revenues of $64.4 million, compared to revenues of $58.1 million for the same quarter of 2015, an increase of 10.8%. Material sales were $22.3 million, down 8.3% compared to the second quarter of 2015, primarily due to a $2.0 million decline in host material sales. Royalty and license fees were $42.0 million, up from $33.7 million in the second quarter of 2015. The Company recognized $37.5 million in Samsung Display Co., Ltd. (SDC) licensing revenue in the second quarter of 2016, up from $30.0 million in the same quarter of 2015.

The Company reported operating income of $34.0 million in the second quarter of 2016, compared to an operating loss of $4.8 million for the second quarter of 2015. Excluding the inventory write-down of $33.0 million, adjusted operating income was $28.2 million for the second quarter of 2015. Operating expenses were $30.4 million, compared to $62.9 million in the second quarter of 2015 and cost of materials was $5.7 million, compared to $39.1 million in the second quarter of 2015, both of which included the inventory write-down of $33.0 million in the second quarter of 2015.

The Company’s balance sheet remained strong, with cash and cash equivalents and investments of $332.0 million as of June 30, 2016. During the second quarter, the Company added $96.0 million in intangible assets in the form of intellectual property purchases and certain other assets from BASF, increasing the portfolio to more than 4,100 issued and pending patents worldwide. During the second quarter, the Company generated $36.2 million in operating cash flow.

Financial Highlights for the First Six Months of 2016

The Company reported revenues of $94.1 million, compared to revenues of $89.3 million for the first half of 2015, or an increase of 5.4%. Material sales were $46.6 million, down 8.8% compared to $51.1 million in the first half of 2015, primarily due to a $7.0 million decline in host sales. Royalty and license fees were $47.4 million, up from $38.1 million in the first half of 2015.

The Company reported operating income of $36.7 million in the first half of 2016, compared to an operating loss of $3.1 million for the first half of 2015. Excluding the inventory write-down of $33.0 million, adjusted operating income was $30.0 million for 2015. For the first half of 2016, we reported net income of $23.8 million, or $0.51 per diluted share, compared to a net loss of $10.5 million, or $0.23 per diluted share, for the same period of 2015. Excluding the inventory write-down and the associated $1.9 million reduction of income tax expense, adjusted net income was $20.7 million, or $0.45 per diluted share, for the first half of 2015.

Operating cash flow for the first half of 2016 was $36.2 million, a decrease of 51.8% compared to $75.2 million for the first half of 2015 which included an upfront $42.0 million license and royalty payment.

2016 Guidance

While the OLED industry is still at a stage where many variables can have a material impact on its growth, based upon the most recent and best information on hand, the Company believes it is prudent to revise its 2016 revenues guidance. The Company now expects 2016 revenues to be in the range of $190 million to $200 million.

UDC Acquires BASF’s OLED IP Portfolio for USD 96 Million…King of Materials Patents

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Source = UDC

Hyunjoo Kang / jjoo@olednet.com

On 28 June, Universal Display (UDC), dominating the patents within the OLED materials sector, announced that they acquired OLED related patents for approximately USD 96 million.

Most of the portfolio represent patents regarding phosphorescent OLED materials, including over 500 issues and pending patents around the world in 86 patent families. BASF’s OLED portfolio’s average lifetime is 10 years.

UDC is anticipating that this move, that allows them to have over 4,000 issued and pending patents, will help them develop blue emissive systems. As UDC has USD 395.7 million in cash, it should not be a problem financing this IP acquisition cost.

Korean OLED emitting materials companies are also focusing on this move; as the patent competitiveness could be said to sway OLED materials market, IP acquisition is important.

According to UBI Research, with this patent competitiveness UDC led the global OLED emitting materials market in 2015 for two consecutive years. Korean materials companies, including Duksan Neolux, are actively participating in improving their patent competitiveness to respond to UDC’s solid domination of the market.

In April, Professor Jun Yeob Lee (Chemical Engineering, Sungkyunkwan University) explained at a forum that UDC’s patents slightly diminished through litigation, the company still has wide claim that includes almost all of phosphorescent materials sector. He emphasized that UDC began to react through acquiring other patents, and that Korean companies should also search for other methods of response.

In 2015, BASF stopped OLED related research development.

UDC, 바스프 OLED 인광 재료 특허 9600만 달러에 인수…역시 재료계 특허제왕

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출처 = UDC

강현주 / jjoo@olednet.com
OLED 재료 업계의 특허 제왕으로 군림하고 있는 유니버셜디스플레이( UDC )가 바스프( BASF )의 OLED 관련 특허를 미화 약 9600만달러에 인수했다고 28일 발표했다.
이 특허 포트폴리오는 주로 OLED 인광 재료들에 대한 것으로, 이미 출원된 500개가 넘는 특허와 아직 출원전인 전세계 86개 분야 특허도 포함하고 있다. 바스프의 이 OLED 포트폴리오는 평균적으로 10년간 유효하다.
UDC는 이번 바스프 특허 인수를 통해 블루 발광 시스템을 개발하는 데 도움이 될 것으로 기대하고 있다. 이번 인수로 UDC는 4000개가 넘는 출원 특허와 대기중인 특허를 보유하게 된다. UDC는 미화 3억9570만달러의 현금을 가지고 있어 이번 IP 인수 비용을 충분히 감당할 수 있다.
이번 UDC의 행보에 한국의 OLED 발광재료 업체들도 이목이 집중된다. OLED 재료 시장은 특허 경쟁력이 좌우한다고 할만큼 IP 확보가 중요하기 때문이다.
실제로 유비산업리서치의 조사에 따르면 UDC는 이같은 특허 경쟁력을 앞세워 지난 2015년 전년에 이어 전세계 OLED 발광재료 시장에서 1위를 차지했다. 덕산네오룩스 등 한국의 재료 업체들은 UDC의 견고한 시장 선점에 맞서 특허경쟁력 확보에 적극적으로 나서고 있다.
성균관대학교 고분자 공학부 이준엽 교수는 지난 4월 열린 한 포럼에서 “UDC의 특허는 그동안 소송들을 거치며 다소 축소되긴 했지만 여전히 인광 재료쪽이 거의 다 포함되는 넓은 클레임을 가지고 있다”며 “UDC는 또 다른 특허들을 인수하는 등 대응에 나섰으며 한국 업체들도 이에 따른 대응 방법을 찾아야 한다”고 강조했다.
한편 바스프는 지난 2015년 OLED 관련 연구개발을 중단한 바 있다.

UDC Announces Strategic Acquisition of Adesis

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Source : UDC

Source : UDC

Hyunjoo Kang / jjoo@olednet.com

UDC announced today that it has entered into an agreement to acquire Adesis, Inc. Adesis is a privately held contract research organization (CRO) with 43 employees specializing in organic and organometallic synthetic research, development, and commercialization. Adesis is a critical technology vendor to companies in the pharmaceutical, fine chemical, biomaterials, and catalyst industries, and has worked with Universal Display over the last few years to help advance and accelerate a number of Universal Display’s product offerings.

“This acquisition is part of our strategic growth plan. We believe that it will provide additional highly-skilled resources to further advance our initiatives for the development and delivery of next-generation proprietary emissive material systems in the rapidly evolving OLED industry,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “Moreover, we expect it to enable us to leverage our twenty-plus years of experience in developing and commercializing cutting-edge chemistry technologies to help expand Adesis’ businesses across its end-markets including pharma, biotech and catalysis. We are delighted to welcome Dr. Andrew Cottone, President of Adesis, Dr. Ving Lee, Chief Scientific Officer, and the vastly experienced Adesis team to UDC.”

“We are very excited to become part of UDC and build additional synergies between both companies, and further enhance the growth of UDC’s OLED leadership,” said Andrew Cottone, President of Adesis, Inc. “In addition, we anticipate that Adesis will benefit from UDC’s financial and business acumen to better support our clients with world-class technology and expertise, and reinforce our positioning for continued growth as a specialty chemical CRO.”

Under the terms of the agreement, Universal Display will acquire all outstanding shares of Adesis, Inc. in a merger for approximately $36 million in cash. The transaction is expected to close in the third quarter of 2016, subject to customary closing conditions. Following the closing, Adesis will operate as a wholly-owned subsidiary of Universal Display Corporation. Andrew Cottone will continue as the President of Adesis, and Steve Abramson will become the Chairman of the Board of Adesis.

UDC, net income $1.9 million for 1Q 2016…46% ↑ YoY

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Source : UDC

Source : UDC

Hyunjoo Kang / jjoo@olednet.com

UDC (Universal Display Corporation), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today reported financial results for the first quarter ended March 31, 2016.

For the first quarter of 2016, UDC reported net income of $1.9 million, or $0.04 per diluted share, on revenues of $29.7 million, compared to net income of $1.3 million, or $0.03 per diluted share, on revenues of $31.2 million for the first quarter of 2015.

“In the first quarter, our commercial emitter revenues grew 8% year-over-year, primarily driven by strong green emitter shipments. Royalty and license fees increased by 22%. Host material sales, in line with expectations, declined year-overyear,” said Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of UDC

Rosenblatt continued, “The OLED landscape continues to expand. New OLED products are launching, capacity is building, equipment bookings are increasing and the pipeline of OLED design activities is broadening.

With OLED display penetration at only about 10% of the total consumer electronic display market, new applications like automotive, virtual reality, augmented reality and signage emerging and OLED lighting transitioning from development stage to commercial, we believe that our long-term growth trajectory remains strong.”

Financial Highlights for the First Quarter of 2016 The Company reported revenues of $29.7 million, compared to revenues of $31.2 million in the same quarter of 2015.

Material sales were $24.3 million, down 9% compared to the first quarter of 2015, primarily due to a $5.0 million decrease in host material sales. This decline was partially offset by an increase of $2.5 million in emitter material sales.

Royalty and license fees were $5.3 million, up from $4.4 million in the first quarter of 2015.

No revenue was recognized under the Samsung Display Co., Ltd. (SDC) licensing agreement in the first quarter, as SDC is obligated to make licensing payments in the second and fourth quarters of the year. For 2016, the Company expects to recognize $75 million in SDC licensing revenues for the full year.

The Company reported operating income of $2.5 million, up from $1.8 million for the first quarter of 2015. Operating expenses were $27.2 million, compared to $29.5 million in the same quarter of 2015.

Cost of materials was $5.1 million, compared to $8.6 million in the first quarter of 2015, reflecting the decline in host material sales volume, which have less favorable margins than the Company’s emitter materials.

The Company’s balance sheet remained strong, with cash and cash equivalents and investments of $395.7 million as of March 31, 2016.

UDC’s 2015 OLED Emitting Materials Revenue $ 113 million, a 11% Decrease…Still Leading Market

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Source : UDC

Hyunjoo Kang / Reporter / jjoo@olednet.com

UDC (Universal Display) that is dominating the global OLED emitting materials market, recorded 11% reduced OLED emitting materials revenue in 2015 compared to 2014. Despite the decreased revenue, it maintained its top place in the market.

According to 2016 OLED Emitting Material Annual Report, published by UBI Research, UDC recorded approximately $ 113 million in 2015 OLED emitting materials revenue. In 2014, this company’s OLED emitting materials revenue recorded $ 127 million and led the global market, and maintained its position in 2015.

In particular, this company is a dominating presence in dopant materials sector. In 2015, UDC occupied 82% of the dopant materials sector, and the rest of the companies share the remaining 18%. Based on the phosphorescent patents, it is supplying phosphorescent red and green dopant to Samsung Display and LG Display.

Following UDC’s top place in 2015 global OLED emitting materials market in terms of revenue, Idemitsu Kosan ranked 2nd, and this was followed by Novaled, Dow Chem., and Samsung SDI. In 2013, Dow Chem. was at the top of the market, but since 2014 UDC overtook the leadership. In 2016, LG Display’s OLED TV mass production line operation rate, materials structure of Galaxy Note series to be mass produced in H2, and other factors are expected to affect the OLED emitting materials market.

UDC is scheduled to announce 2016 Q1 performance on 5 May (local time).

 

UDC, 2015년 OLED 발광재료 매출 11% 하락한 $1억1300만…그래도 1등

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출처: UDC

강현주 기자 / jjoo@olednet.com

글로벌 OLED 발광재료 시장 패권을 쥐고 있는 UDC(Universial Display)가 지난 2015년 OLED 발광재료 매출이 전년대비 약 11% 하락했지만 시장 1위는 지켰다.

유비산업리서치의 ‘2016 OLED Emitting Material Report’에 따르면 UDC는 2015년 OLED 발광재료 부문에서 약 1억1300만달러(한화 약 1285억원)의 매출을 기록했다. UDC는 2014년에 1억2700만달러(한화 약 1442억원)의 매출을 올려 전세계 1위를 차지했으며 이어 2015년에도 패권을 사수했다.

UDC는 특히 Dopant 재료 부문에서 압도적인 점유율을 차지하고 있다. 2015년 Dopant 재료 시장은 UDC가 82%를 점했으며 그 외 업체들이 나머지 18%를 나눠가지고 있다. UDC는 인광 특허를 기반으로 삼성디스플레이와 LG디스플레이에 인광 Red와 Green Dopant를 공급하고 있다.

2015년 글로벌 OLED 발광재료 시장에서 매출액 기준 업체별 순위는 UDC에 이어 Idemitsu Kosan이 2위를 차지했으며 뒤 이어 Novaled, Dow Chem., Samsung SDI 순이다.

Dow Chem.은 지난 2013년에는 OLED 발광 재료 시장 매출 1위였으나 2014년 이후부터 UDC에 주도권을 계속 뺏기고 있는 상황이다.

2016년의 경우 LG디스플레이의 OLED TV 양산라인 가동률, 하반기 양산될 갤럭시 노트 시리즈의 재료구조 등이 OLED 발광재료 시장에 영향을 미칠 것으로 보인다.

한편 UDC는 오는 5월 5일(현지시간) 2016년 1분기 실적을 발표할 예정이다.

 

 

2015 OLED Emitting Materials Market, Dow Chem and LG Chem in Slump…Why?

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Hyunjoo Kang / Reporter /jjoo@olednet.com

 

 

In the midst of UDC`s domination of 2015 global materials market, with Japanese Idemitsu Kosan`s rapid growth and slump of emitting materials companied, there has been changes to the enviroment.

According to [2016 OLED Emitting Materials Annual Report] to be published by UBI Research in mid-April, the 2015 global emitting materials market recorded approximately a 17% growth compared to 2014

 

 

UDC’s revenue decreased from previous year, but remained at the top, the same as 2014. UDC was closely followed by Idemitsu Kosan despite its fourth place in 2014.

Such growth of Idemitsu Kosan is mainly due to its supply expansion in regards to Korean companies such as Samsung Display and LG Display. In 2015, Idemitsu Kosan began actively supplying Samsung Display with blue materials. Together with the increase in Idemitsu Kosan’s client LG Display’s OLED panel for TV mass production line’s operation rate, Idemitsu Kosan’s supply increased.

 

2015 Global OLED Emitting Materials Market Ranking
Source: UBI Research, 2016 OLED Emitting Materials Annual Report

◆ Samsung Display to Determine Up and Down of Companies

On the other hand, some OLED emitting materials companies that ranked high until 2014 showed poor performance. Dow Chem., that reached the second place in 2014 after UDC in revenue, fell to the fourth place in 2015 due to a big sales decrease. The third and fifth companies in 2014, LG Chem and Duksan Neolux respectively, fell below fifth place in 2015 due to the same reason.

Dow Chem. and Duksan Neolux are analyzed have recorded sales decrease in comparison to 2014 due to the supply chain changes of Samsung Display. In the case of LG Chem, the sales fell as the Samsung Display’s supply volume decreased.

However, Samsung SDI recorded sales increase, and entered within the top 5 in 2015. This company’s performance improved as it supplied Samsung Display with green host.

The company that recorded greatest growth is a Germany company Novaled that Samsung SDI, then Cheil Industries, took over. This company recorded approximately 150% revenue increase compared to previous year, and reached the third place in 2015 following UDC and Idemitsu Kosan. With the increase in OLED panel for TV mass production line’s operation rate, Novaled’s revenue greatly increased.

UBI Research estimated that in 2016, LG Display’s OLED TV mass production line operation rate and Galaxy Note series’ material structure, to be mass produced in the second half, will greatly affect revenue of OLED emitting materials companies.

2015년 발광재료 시장, 이데미츠 코산 등 약진·LG 등 부진

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2015년 글로벌 OLED Material 시장. 출처=유비산업리서치 ‘2016 OLED 발광 재료 보고서’

 

강현주 기자 / jjoo@olednet.com

2015년 전세계 발광재료 시장은 UDC가 패권을 사수한 가운데, 일본 업체인 Idemitsu Kosan의 눈부신 성장, 일부 한국 발광재료 업체들의 부진 등으로 지각변동이 있었다.

유비산업리서치(UBI Research)가 이달 중순 발간할 예정인 ‘2016 OLED 발광재료 보고서’에 따르면 지난해 전세계 발광재료 시장 매출액은 전년 대비 약 17%의 성장을 기록했다.

UDC는 다소 매출이 하락했지만 2014년에 이어 1위를 지켰다. 뒤이어 지난해 4위에 그쳤던 Idemitsu Kosan이 2015년에는 매출 성장을 달성해 2위에 등극, UDC를 바짝 쫓았다.

Idemitsu Kosan의 이 같은 성장은 삼성디스플레이와 LG디스플레이 등 한국 기업들에 대한 공급을 확대한 것이 주요인이다. Idemitsu Kosan은 2015년부터 본격적으로 삼성디스플레이에 블루 재료를 공급하기 시작했다. 이와 함께 Idemitsu Kosan의 고객사인 LG디스플레이의 TV용 OLED 패널 양산라인의 가동률이 증가함에 따라 Idemitsu Kosan의 공급이 늘어났다.

2015년 글로벌 OLED Material 시장 업체별 순위(출처=유비산업리서치 ‘2016 OLED 발광재료 보고서’)

◆삼성디스플레이가 업체들 희비 좌우

반면 2014년까지 높은 순위들을 차지했던 몇몇 업체들은 저조한 기록했다. 2014년 UDC에 이어 매출액 점유율 2위였던 Dow Chem.은 전년대비 큰 폭의 매출 하락으로 2015년에는 4위에 그쳤다. 2014년 3위였던 LG Chem.과 5위였던 Duksan Neolux도 역시 전년대비 매출 하락으로 2015년에는 5위권 밖으로 밀려났다.

Dow Chem.과 Duksan Neolux는 Samsung Display의 supply chain 변경에 영향을 받아 매출액이 2014년 대비 감소한 것으로 분석된다. LG Chem.의 경우 Samsung Display의 공급량 감소 때문에 매출이 줄었다.

단 Samsung SDI는 5위권 안에 진입했다. 이 업체는 Samsung Display에 그린 호스트를 공급하면서 실적이 개선됐다.

가장 큰 폭의 성장을 기록한 업체는 Samsung SDI에서 제일모직시절 인수한 독일 업체 Novaled다. 이 업체는 전년대비 약 150%의 매출 성장을 달성하며 2015년 UDC, Idemitsu Kosan에 이어 단숨에 3위에 등극했다. TV용 OLED panel 양산라인의 가동률이 증가하면서 Novaled는 매출액이 큰폭으로 상승했다.

유비산업리서치 관계자는 “2016년에는 LG Display의 OLED TV 양산라인 가동률과 하반기 양산될 Galaxy Note series의 재료 구조에 따라 발광재료업체들의 매출액에 큰 영향을 끼칠 것”이라고 전망했다.

 

 

[IMID 2015] UDC Develops OLED Patterning Technology with Less Masks

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At present, FMM (Fine Metal Mask) is considered the main method for large area RGB OLED panel production. However, due to shadow effect, mask total pitch fluctuations, and mask slit tolerance issues, there is a yield limitation to this technology. This limitation increases as the resolution becomes higher; minimizing the number of FMM during the OLED panel production has been a key issue in RGB OLED production.

 

In SID 2014, through a paper titled “Novel Two Mask AMOLED Display Architecture”, UDC revealed a technology that can reduce the number of masks used in RGB-FMM method to 2 from previous 3.

 

Source : UDC, SID 2014

As shown above, this technology coats yellow and blue subpixels using 1 mask each. Following this process, green and red color filters are applied above the subpixels. Pixels are formed as illustrated below.

 

Source : UDC, SID 2014

UDC explained that this technology improves lifetime of the display overall and reduces energy consumption as blue voltage can be lowered. Additionally, tact time can be reduced through this technology, and increase the yield.

 

In IMID 2015, UDC presented research of the same title. However, the content of the presentation unveiled more developed research compared to 2014. First of all, in 2014, UDC announced that the panel’s lifetime could be improved by 2 times compared to the RGB method. In IMID 2015, UDC’s announcement changed the figure to 3.3 times increased lifetime.

 

UDC also revealed that the technology can be actualized through printing method, and has the advantage of being able to print 2 rows of pixels at once. UDC announced that this is most suitable when OVJP (Organic Vapor Jet Printing) applies the printing method.

 

A new technology called SPR (Sub-Pixel Rendering) was also announced by UDC in this paper. The 2014 SID paper included a method that did not uses SPR. As shown below in figure 1, 4 subpixels of RGY and B are used per pixel.

 

[Fig. 1], Source: UDC, IMID 2015

During IMID 2015, UDC presented APR technology applied pixel structure. Figure 2 shows 3 subpixels per pixel.

 

[Fig. 2], Source: UDC, IMID 2015

In this case, as the pixels can be arranged as shown in figure 3, smaller number of subpixels can be used.

 

[Fig. 3], Source: UDC, IMID 2015

UDC announced that because APR technology allows the number of subpixels per pixel to be reduced to 3 or less, the number of data lines and TFT per pixel can also be reduced together.

 

UDC explained that this technology can be applied regardless of the display area or resolution, and will be able to be applied to different types of panels.

 

[IMID 2015]UDC, 저 Mask OLED Patterning 기술 개발

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현재 대면적 RGB OLED 패널을 제조할 수 있는 주요 방법으로 FMM(Fine Metal Mask)가 꼽히고 있지만 shadow effect와 mask total pitch 변동, mask slit tolerance의 문제로 수율이 제한적인 한계가 있다. 이런 한계는 해상도가 올라갈수록 점점 커지고 있어 OLED 패널 제조 시 사용되는 FMM 개수의 최소화는 RGB 방식 OLED의 주요 이슈였다.

UDC에서는 작년 SID 2014에서 “Novel Two Mask AMOLED Display Architecture”의 논문을 통해 기존의 3 mask를 사용하는 RGB-FMM 방식에서 mask 사용을 2장으로 줄일 수 있는 기술을 공개하여 큰 화제를 모았다.

Source : UDC, SID 2014

이 기술은 위의 그림과 같이 yellow와 blue 서브픽셀을 각각의 mask를 써서 증착한 후 green과 red 서브픽셀 위에 각 색의 color filter를 올리는 방식이다. 이 때 공정 후 아래 그림과 같이 픽셀이 형성된다.

Source : UDC, SID 2014

UDC는 이 기술을 통해 blue 전압을 줄일 수 있기 때문에 display 전체적인 수명이 향상되고 소비전력이 감소하는 장점을 가질 수 있다고 설명한 바 있다. 또한 이 기술을 통해 tact time을 감소하고 수율을 증가할 수 있다고 밝혔다.

이번 IMID 2015에서 UDC는 같은 제목의 연구를 발표하였다. 하지만 구체적인 내용은 작년에 발표한 내용보다 한 단계 발전하였다. 먼저 작년 SID에서 UDC는 RGB방식에 비해 패널의 수명을 2배 향상할 수 있다고 발표했지만 이번 IMID에서는 3.3배 향상할 수 있다고 발표하였다.

또한 printing 방식으로도 기술 구현이 가능하며, 이 때 한번에 2줄의 픽셀을 print할 수 있는 장점이 있다고 밝혔다. UDC는 OVJP(Organic Vapor Jet Printing)가 printing방식을 적용할 때 가장 적합한 방식이라고 발표하였다.

UDC는 이번 논문에서 SPR(Sub-Pixel Rendering)이라는 새로운 기술을 발표하였다. 작년 SID에서 발표한 논문은 SPR이 적용되지 않은 방식으로 아래 [그림1]과 같이 한 픽셀당RGY와 B의 4개의 서브픽셀로 구동된다.

[그림1], Source: UDC, IMID 2015

이번 IMID에서는 SPR기술과 결합한 픽셀 구조를 선보였다. [그림2]과 같이 한 픽셀당 3개의 서브픽셀을 사용하여 구동하는 방식이다.

[그림2], Source: UDC, IMID 2015

이 경우 [그림3]과 같이 픽셀을 배열할 수 있기 때문에 더 적은 서브 픽셀로 구성이 가능하다.

[그림3], Source: UDC, IMID 2015

UDC는 SPR 기술을 통해 픽셀 한 개당 서브픽셀의 개수를 3개 이하로 줄일 수 있기 때문에 픽셀 당 data line의 개수와 TFT 개수를 같이 줄일 수 있다고 발표하였다.

UDC는 “이 기술은 면적이나 해상도에 관계없이 적용할 수 있기 때문에 앞으로 다양한 종류의 패널에 적용이 가능할 것으로 보인다.”고 밝혔다

Universal Display and LG Display Announce Entry into Long-Term OLED Patent License and Supplemental Material Purchase Agreements

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Universal Display Corporation (Nasdaq:OLED), enabling energyefficient displays and lighting with its UniversalPHOLED® technology and materials, and LG Display Co., Ltd. (NYSE: LPL), the world’s leading innovator of display technologies, today announced the signing of a new OLED Technology License Agreement and Supplemental Material Purchase Agreement. The agreements run through December 31, 2022.
Today’s announcement builds on a long-term relationship between the two companies. Under the license agreement, Universal Display has granted LG Display non-exclusive license rights under various patents owned or controlled by Universal Display to manufacture and sell OLED display products. In consideration of the license grant, LG Display has agreed to pay Universal Display license fees and running royalties on its sales of these licensed products over the term of the agreement. Additionally, Universal Display will supply phosphorescent materials to LG Display for use in its licensed products.
“We are excited to enter into these agreements with our long-term partner LG Display, a global technology innovator who is leading the charge for OLED TVs, evidenced by its recent CES showcase of new 4K models ranging from 55″, 65″ and 77″ in flexible, curved and flat form actors,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “The growth of our relationship demonstrates the continued acceptance of our OLED technology and phosphorescent materials by the display industry for cutting-edge, high performance, energy-efficient commercial OLED displays. We look forward to the continued collaboration in support of LGD’s advancements in expanding the thriving OLED product roadmap, including the advent of new form factors that redefine what a display can and will be.”
“This is a win-win partnership for both companies. We expect this strategic alliance with Universal Display will bring synergies in accelerating the growth of OLED technology, and based on strengthened OLED business, LG Display is committed to deliver differentiated products to customers and the market,” said Sang Deog Yeo, President and Head of OLED business unit of LG Display.

LG디스플레이, 美, UDC와 OLED사업 전략제휴

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LG디스플레이(대표이사 한상범, 韓相範 / www.lgdisplay.com)와 OLED 재료업체인 UDC(Universal Display Corporation / 대표이사 Steven V. Abramson)가 26일, ‘OLED기술 상호 협력 및 관련특허 라이센스(License) 협약’을 체결하고 OLED사업 경쟁력 강화에 나섰다.

1994년 설립된 UDC는 3,300개가 넘는 OLED관련 특허를 보유하고 있으며, 특히 친환경, 저소비전력을 가능하게 하는 인광 OLED 재료 원천특허를 보유하고 있는 세계적인 OLED 소재 원천기술 기업이다.

이번 전략적 제휴를 통해 LG디스플레이는 UDC로부터 우수한 OLED 재료공급 및 디바이스(Device) 구조 등을 제안 받음으로써 TV용 OLED 및 플렉시블 OLED의 연구, 제품개발 및 생산을 더욱 강화할 수 있게 되어 OLED 시장확대에 가속도를 붙일 수 있게 되었다.  UDC는 LG디스플레이에 고성능의 OLED 재료를 공급하고 기술개발과 제품화 협력을 통해 디스플레이 분야에서의 글로벌 리딩 고객을 확보할 수 있게 되었다.

업계에서는 양사가 이번 제휴를 통해 OLED 사업분야에서 시너지를 극대화하여 업계에서 확고한 리더십을 발휘할 수 있는 계기를 마련한 것으로 보고 있다. 이미 LG디스플레이와 UDC는 2007년 세계 최초로 4인치 크기의 풀컬러 플렉서블 AMOLED를 공동으로 개발한 바 있다.

LG디스플레이 OLED사업부장 여상덕 사장은, “이번 전략적 제휴로 OLED TV 시장 확대에도 탄력을 받을 뿐만 아니라 LG디스플레이의 플렉시블 및 투명 OLED 개발도 더욱 가속도를 붙일 것” 이라며, “윈-윈 협력관계는 양사의 OLED사업에 큰 시너지 효과가 기대되며 앞으로도 LG디스플레이는 시장과 고객에게 더욱 차별화된 제품을 제공할 것.”라고 밝혔다.

UDC’s New Technology, Improving lifespan and power consumption of OLED Display

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UDC presented a paper on a new technology that reduces power consumption and increases lifespan than the existing RGB-FMM method at SID 2014.

Under the title of “Novel Two Mask AMOLED Display Architecture,’ the paper describes the new technology to reduce to 2 mask from the existing RGB-FMM using 3 mask. In details, each pixel is divided into 2 regions; yellow and blue, and evaporation is performed with the yellow and blue masks. This technology is to form a pixel structure of YRGB by developing a color filter of red and green on the yellow region

UDC describes that the technology reduces the resolution by 33% compare to RGB FMM, but the increase of the blue region will increase the overall lifespan and decrease the power consumption of the display. It also announced that it could lower the production cost by reducing tact time and improving yield rate.

Like UDC, the industry develops various technologies to reduce the yield rate and cost of the AMOLED, and further continuous development of the AMOLED is expected.

140627_Layout of new two mask step pixel architecture

<Layout of new two mask step pixel architecture>