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Technology Stocks : OLED Universal Display Corp
OLED 214.960.0%Jun 15 4:00 PM EDT

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From: ynotgoal5/9/2021 12:51:27 PM
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oled-a has several posts on OLED products and utilization for 2021. Apple expected to use 170 million OLED in 2021 vs 115 million in 2020. Samsung Electronics is starting to source flexible OLED from BOE as Samsung Display appears to be running out of production capacity which offsets decline of orders for BOE from Huawei. It seems like in this scenario SDC would look to expand capacity or Samsung will start relying more on BOE for flexible OLED. Notebooks will help SDC keep their rigid OLED lines busy. Lastly, a discussion on OLEDs for IT applications with speculation on Apple adoption. They discuss tandem OLEDs and note UDC developing more narrow spectrum materials.
Omdia forecasts 169 million iPhone with OLED panels will be shipped this year, up 47.6% Y/Y vs. 114.5 million units shipped in 2020. The 169 million units includes legacy OLED iPhone models as well as those for new models launching later this year.
Samsung Electronics is expected to use 157 million units of OLED panels in its smartphones this year, according Omdia, only a slight increase from 152.3 million units of last year. Xiaomi will be the third largest procurer of OLED panels with 67 million units. A total of 584.5 million units of OLED panels are expected to be shipped this year, an increase of 28% Y/Y. Flexible OLED panels will account for 335.5 million units, while rigid OLED panels will make up 249 million units. Last year, a total of 456.6 million units of smartphone OLED were shipped, a 3% decline from 2019’s 471 million units. Huawei used less OLED panels due to US sanctions, while Samsung’s use of the panels also dropped due to intense competition with Apple and Chinese companies. Chinese panel companies also failed to meet their smartphone OLED shipment target. The combined target of BOE, CSoT, EverDisplay, Tianma, Visionox and Royole was 100 million units but shipments were ~80 million units, according to Omdia.
Current expectations are that Samsung Display will supply between 120m and 130m OLED displays for the iPhone 13, with LG Display supplying 50m, a big improvement over last year’s ~20m units, for a total of between 170m and 180m by the end of the year and based on these expectations. Samsung Display dedicated the entire output of its A3 OLED fab to production for the iPhone, and based on yield assumptions for flexible panels, Samsung would fall short of its expected goal especially given that it had to reduce its capacity to handle the extra mask steps for LTPO.. Samsung has been refitting a portion of its A4 OLED fab to produce LTPO displays, which when included, would allow Samsung to meet those production expectations. LG Display, based on capacity at its E5 and E6 fabs should be able to meet current target expectations. If Apple actually maintains current volume expectations for iPhone 13, it will represent a very substantial part of LG Display’s overall flexible OLED capacity for the year, will keep Samsung’s overall small panel utilization rate at a high level for much of the year, which they disclosed in their earnings call. The projections are shown in the next table. Reports indicate that BOE will supply 9m OLED panels, but they are likely to be for repair purposes as they were in 2019.
BOE is preparing to supply its OLED flexible displays for Samsung Mobile’ smartphones and become a threat to SDC’s hold on the OLED industry . Samsung Mobile plans to use BOE’s flexible OLEDs for part of the mid-range Galaxy M series models to be released in the second half this year. Samsung Electronics also selected relevant components such as driver IC and touch IC for BOE’s OLED displays. The schedule for production has also been set for July. BOE has yet to succeed in making its OLED brand known. As flexible OLED requires advanced techniques, the company had faced issues such as yield and quality despite making aggressive investments. BOE started to run its OLED business through Huawei. Its strategy was to become competitive in its OLED business by working with other Chinese companies. When the U.S. government imposed sanctions on Huawei, BOE first looked to Apple and in 2021 is expected to ship 9m OLED displays. With that win in hand, they were able to convince Samsung Mobile to qualify their flexible OLED displays, which will be priced lower than sister company, SDC.
Samsung Electronics Co. introduced the all-new next-generation, mobile computing-optimized devices, the Galaxy Book Pro and the Galaxy Book Pro 360. Samsung expects to ship 1m of the new OLED notebooks this year, and while that will be less than 1% of total notebook volume this year, on an area equivalent basis, 1m notebook units (50% each of both sizes) would utilize over 6 times the surface area needed to produce 1m 6.5” smartphones, keeping Samsung Display’s rigid OLED fab at higher utilization rates than if they depended on smartphones.
Another improvement, that is likely to help with all applications is the narrowing of the spectrum, which is being spearheaded by UDC to get more luminance out of a given current.

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