SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Technology StocksOLED Universal Display Corp


Previous 10 Next 10 
From: jexzz6/24/2021 5:01:15 PM
10 Recommendations   of 27586
 
Goldman Reiterates Buy 6-24-21

Universal Display Corp. (OLED): Takeaways from management meetings; Buy

We hosted investor meetings with OLED management this week in the (virtual) European region, where investor discussions centered on trends impacting the 2021 outlook, supply chain dynamics, and blue emitters, among other topics. We remain Buy rated with our key takeaways from the roadshow summarized in more detail within.

Takeaways
n Outlook for 2021 remains intact... While OLED acknowledges that 1Q21 results came in better than internal expectations, the company is comfortable in maintaining its 2021 outlook for now. Specifically, the company is seeing nothing materially different vs. 1-2 months ago in terms of what the rest of the year is shaping up to look like and sees $530-$560mn of revenue for this year as the appropriate range, with potential updates to be provided to the outlook as visibility on certain factors (see below) improves through the course of the year.

n ...but likely embeds some conservatism owing to a few factors. In our view, the company is remaining prudently conservative owing to factors such as (i) shortages across the semiconductor supply chain and (ii) ongoing uncertainties related to COVID.

n Supply chain issues are indirect and having limited impact for now. OLED does not appear to be seeing any impact on its business and no real direct impact in terms of constraints, and the company does not believe that customers are buying safety stock or building inventory. In terms of its own supply chain, the company did note that it is still watching the pricing trends for one of its raw materials - iridium - which OLED noted has seen a meaningful price increase over the past few years (e.g. $400 per troy ounce to over $6,000 at peak, though down since then). That said, the company has been building inventory steadily on iridium and said that it has enough stock for several years worth of needed supply, and thus does not see any constraints in the near-to-medium term.

n OVJP continues to progress. OLED noted that it now has 25 people working on the West Coast on an OVJP alpha tool. This tool remains on target for launch at the end of 2022 and will be an 8.5G equivalent scale. While timing of the full commercialization remains uncertain, OLED is actively looking at partners,

n Blue status is unchanged - excellent progress. OLED provided no real updates on blue. The company did cite that the recent Samsung Display research presented at the SID 2021 conference noted significant improvements and acknowledgment of working with OLED’s blue phosphorescent emitter. At the same time, OLED confirmed that it has development blue materials shipping to multiple customers and said that it is continuing to make excellent progress on its path toward reaching commercial specs. In terms of any potential timeline, OLED reiterated that following commercialization, it would likely be 9-12 months before its blue materials find their way into a commercial product, meaning a 2022 device is likely the earliest timeline, in our view.
Valuation
Our 12-month price target of $275.

Share RecommendKeepReplyMark as Last Read


From: I'manoledguy6/24/2021 7:04:02 PM
1 Recommendation   of 27586
 


Samsung, LG to likely spend conservatively in new OLED lines in 2nd half


  • Gijong Lee 2021.06.24 19:05


  • Korean equipment makers expecting low orders
    Image: Samsung Display
    Samsung Display and LG Display are expected to spend conservatively on expanding their OLED production capacities in the second half of the year, according to multiple sources working at South Korean equipment makers.

    There are some expectations that the pair may start investing more on OLED panels from increased use of the panels in a variety of sectors and new customers, but market conditions remain uncertain, which means they will likely spend conservatively, the sources said.

    Samsung Display is expected to start spending to convert its L7-2 liquid crystal display (LCD) line into a one for smartphone OLED panels. The company is reviewing whether it would spend on OLED panels for IT application (that is, for PCs) at the current time.

    Meanwhile, LG Display is reviewing whether to invest in an IT OLED line and a Gen 10.5 (2940x3370mm) OLED line

    Samsung Display is planning to remove all LCD related equipment from L7-2 by next month. The line will converted to a Gen 6 (1500x1850mm) flexible OLED line. It will expanding the OLED line in two stages. The first in the second half of this year will add 15,000 substrates per month in capacity. Another 15,000 substrates per month will be added in the first half of 2022.

    However, the line will only manufacture low-temperature polycrystalline silicon (LTPS) thin-film transistor (TFT) OLED. This is because the company is using LTPS TFT equipment enough for 30,000 substrates per month left over from its A3 line, which has now been converted to produce low-temperature polycrystalline oxide (LTPO) TFT OLED. The conversion of L7-2 will allow Samsung Display its product rate for LTPS TFT OLED.

    At A3, the LTPO TFT OLED are being made for Galaxy smartphones and iPhones.

    For IT OLED panels, Samsung Display is considering converting its L8-1-2 LCD line, or using its A5 line, which has halted production temporarily as of now. Samsung Display has been developing the equipment needed IT OLED with a partner. It is waiting to place orders for them. If Samsung Display decides to give the go-ahead for the IT OLED line, spending will likely start in the first half of 2022.

    Meanwhile, Samsung Display is yet spend more on quantum dot (QD)-OLED. It will likely decide whether to spend more on QD-OLED capacity after customer review is completed, as well as when production of the panels start at its current capacity in the fourth quarter. Q1 line, where QD-OLED panels are made, currently has a capacity of 30,000 Gen 8.5 (2200x2500mm) per month. Q1 line was previously the L8-1-1 line that use to manufacture LCD.

    LG Display is likely to invest in a new IT OLED line first before a new Gen 10.5 line. The IT OLED line will manufacture OLED panels for Apple’s iPad. Cupertino is planning to launch an iPad with a OLED panel for the first time next year. Samsung Display will be the sole supplier of OLED panels for the tablet. LG Display will start supplying in 2023. LG Display is currently making samples of IT OLED panels and testing the,

    LG Display was also reviewing whether to build a Gen 6 line or a Gen 8.5 line for IT OLED. The capacity of the line will start at 15,000 substrates per month.

    When LG Display spend on Gen 10.5 OLED line will likely be effected by Samsung Electronics’ decision. If Samsung demands millions of units per year, LG Display will likely decided to build a new Gen 10.5 OLED line in September. LG Display is currently expanding its Gen 8.5 OLED line at Guangzhou, China from 60,000 substrates per month to 90,000 substrates per month. Unless Samsung orders in huge quantities, it has now need to build another OLED line for TVs. A new Gen 10.5 OLED line will also likely start with a capacity of 15,000 substrates per month.

    Meanwhile, for OLED for iPhones, LG Display is operating two lines at its Paju plant __ the E6-1 and E6-2. E6-3, which it is putting equipment in, will start operations next year. LG Display is expected to ship 50 million OLED panels to Apple this year, so E6-1 and E6-2 is sufficient to handle this.

    Considering all this, Samsung Display and LG Display’s spending will likely stay conservative this year. South Korean equipment makers are expecting low orders in the second half of the year. Chinese panel makers are also expected to focus on improving yield rates at existing lines instead of spending more to make more.




  • Share RecommendKeepReplyMark as Last Read


    From: I'manoledguy6/25/2021 2:16:10 PM
    7 Recommendations   of 27586
     
    This is pretty big news and good for OLED. From our friends at Univ of Michigan.

    June 25, 2021 Nanotech OLED electrode liberates 20% more light, could slash display power consumption by University of Michigan



    A new electrode that could free up 20% more light from organic light-emitting diodes has been developed at the University of Michigan. It could help extend the battery life of smartphones and laptops, or make next-gen televisions and displays much more energy efficient.



    The approach prevents light from being trapped in the light-emitting part of an OLED, enabling OLEDs to maintain brightness while using less power. In addition, the electrode is easy to fit into existing processes for making OLED displays and light fixtures.

    "With our approach, you can do it all in the same vacuum chamber," said L. Jay Guo, U-M professor of electrical and computer engineering and corresponding author of the study.

    Unless engineers take action, about 80% of the light produced by an OLED gets trapped inside the device. It does this due to an effect known as waveguiding. Essentially, the light rays that don't come out of the device at an angle close to perpendicular get reflected back and guided sideways through the device. They end up lost inside the OLED.

    A good portion of the lost light is simply trapped between the two electrodes on either side of the light-emitter. One of the biggest offenders is the transparent electrode that stands between the light-emitting material and the glass, typically made of indium tin oxide (ITO). In a lab device, you can see trapped light shooting out the sides rather than traveling through to the viewer.

    "Untreated, it is the strongest waveguiding layer in the OLED," Guo said. "We want to address the root cause of the problem."

    By swapping out the ITO for a layer of silver just five nanometers thick, deposited on a seed layer of copper, Guo's team maintained the electrode function while eliminating the waveguiding problem in the OLED layers altogether.

    "Industry may be able to liberate more than 40% of the light, in part by trading the conventional indium tin oxide electrodes for our nanoscale layer of transparent silver," said Changyeong Jeong, first author and a Ph.D. candidate in electrical and computer engineering.

    This benefit is tricky to see, though, in a relatively simple lab device. Even though light is no longer guided in the OLED stack, that freed-up light can still be reflected from the glass. In industry, engineers have ways of reducing that reflection—creating bumps on the glass surface, or adding grid patterns or particles that will scatter the light throughout the glass.

    "Some researchers were able to free up about 34% of the light by using unconventional materials with special emission directions or patterning structures," Jeong said.

    In order to prove that they had eliminated the waveguiding in the light-emitter, Guo's team had to stop the light trapping by the glass, too. They did this with an experimental set-up using a liquid that had the same index of refraction as glass, so-called index-matching fluid—an oil in this case. That "index-matching" prevents the reflection that happens at the boundary between high-index glass and low-index air.

    Once they'd done this, they could look at their experimental set-up from the side and see whether any light was coming sideways. They found that the edge of the light-emitting layer was almost completely dark. In turn, the light coming through the glass was about 20% brighter.

    The finding is described in the journal Science Advances, in a paper titled, "Tackling light trapping in organic light-emitting diodes by complete elimination of waveguide modes."

    This research was funded by Zenithnano Technology, a company that Guo co-founded to commercialize his lab's inventions of transparent, flexible metal electrodes for displays and touchscreens.

    The University of Michigan has filed for patent protection. The device was built in the Lurie Nanofabrication Facility.

    Share RecommendKeepReplyMark as Last Read


    From: jexzz6/25/2021 9:06:08 PM
       of 27586
     
    I’m not a conspiracy theorist, but the end of day volume was unreal, along with the spike. Yet I’ve seen nothing news-wise. Very rare, unusual activity. It’s fun to think that maybe someone heard something about blue... but probably wishful thinking. Vis-a-vis Goldman, I think they expect it any time now.

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)


    From: I'manoledguy6/26/2021 6:36:38 AM
    5 Recommendations   of 27586
     
    A new electrode that could free up 20% more light from organic light-emitting diodes has been developed at the University of Michigan. It could help extend the battery life of smartphones and laptops, or make next-gen televisions and displays much more energy efficient.



    Why this is important


    A current 55 inch OLED like the LG OLED55CX consumes 106W according to the new label. By 2023, a new 55-inch OLED model must consume a maximum of 84 watts (a decrease of 21%) to be allowed to appear on the market (still with a G label).






    Conclusion The new EU energy label imposes very strict standards. As a result, all current models are probably in the lowest class (G). Of course nothing changes to the existing models, they still consume as much (or little) as before. The impact on the 2021 lineup will become apparent in the coming weeks and months. But the new standard does indicate that the legislator is pushing hard in the direction of more efficient appliances. In any case, we can only applaud that. The directive for the coming years also makes it abundantly clear that manufacturers will have to work hard on consumption. Televisions will have to reduce their consumption significantly (20% – 50% and more) in two years’ time, in order to even be allowed to appear on the market.

    Share RecommendKeepReplyMark as Last Read


    To: jexzz who wrote (26133)6/28/2021 12:27:19 PM
    From: jexzz
       of 27586
     
    Just happened again, a big buy and spike. Friday’s - late day last minute - could have been an effort to do it in such a way as to not draw too much attention. Today’s chunk could be similar, though not as much - less intrusive. I recognize this is speculation but this is unusual activity,

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)


    From: jexzz6/28/2021 12:38:18 PM
    3 Recommendations   of 27586
     
    Here’s the reason:
    Jefferies reiterated Buy on LGD, June 25:

    We maintain BUY on LGD and our TP of KRW37,000, as we expect all three OLED divisions (large, small-/mid-sized and automotive) to generate profits concurrently in 2H21, which would a first since the OLED business launched in 2013. Specifically, we expect: (1) large OLEDs to turn profitable in 3Q21 for the first time in eight years, driven by rising ASP and better shipments; (2) small-/mid-sized OLEDs to turn profitable on a full-year basis this year on increasing orders fueled by the rollout of a new iPhone in 2H21; and (3) automotive OLEDs to remain profitable given an order backlog of KRW10tn and increasing demand from Mercedes-Benz and Cadillac.

    We forecast large-OLED capacity at the Guangzhou factory to expand by 50% in 2H21 (sheets per month: 60,000?90,000). Despite the resulting increase in cost, large OLEDs should turn profitable, as: (1) LGD has based the factory’s depreciation on 90,000-sheet capacity since operations began and (2) the cost structure should improve once capacity build-up is completed. Accordingly, we forecast large-OLED panel revenue to reach KRW7tn this year and nearly KRW10tn in 2022.
    We forecast 2021 shipments of large OLED panels to surge 80% YoY to 8mn sheets and small-/mid-sized OLED panels 60% YoY to 50mn sheets...

    Share RecommendKeepReplyMark as Last Read


    To: jexzz who wrote (26135)6/28/2021 3:12:07 PM
    From: Aleantarctic
    1 Recommendation   of 27586
     
    IMO.. is just the beginning...



    Apple starts pulling in component orders for new iPhones



    https://www.digitimes.com/news/a20210628PD205.html?mod=2

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)


    To: Aleantarctic who wrote (26137)6/28/2021 3:44:58 PM
    From: Dkjunior143
    1 Recommendation   of 27586
     
    And several rumors around this:

    appleinsider.com

    Share RecommendKeepReplyMark as Last Read


    From: I'manoledguy6/30/2021 6:50:45 AM
    6 Recommendations   of 27586
     

    Apple to launch 2 OLED iPads in 2023


  • Gijong Lee
  • ?? 2021.06.30 19:06



  • First 10.9-inch OLED iPad to debut in 2022
    Image: Apple
    Apple will launch two new models of iPads that use OLED panels in 2023, TheElec has learned.

    Cupertino will launch its first ever OLED iPad in 2022. The tablet will sport a 10.86-inch OLED screen. Samsung Display will be the sole supplier of the OLED panels.

    The following year, in 2023, Apple is planning to launch an 11-inch OLED iPad and a 12.9-inch OLED iPad.

    There is a strong chance that the company will apply different OLED structures for the iPad launching next year and its successors in 2023.

    The 10.86-inch OLED iPad launching next year will use rigid OLED and thin-film encapsulation (TFE). TFE is a technology usually reserved for flexible OLED. It stacks organic material and inorganic material in alternatively in layers to protect the organic material from water and oxygen. Rigid OLED usually use glass substrates and glass encapsulation.

    Next year’s iPad will also use low-temperature polycrystalline silicon (LTPS) thin-film transistor (TFT) and red, green and blue emission layers. This is the same as the OLED structure Apple uses for its iPhones.

    For the iPads launching in 2023, Cupterino could use flexible OLED over rigid OLED. It could also change the TFT from LTPS to low-temperature polycrystalline oxide (LTPO). The RGB emission layer could also be the “tandem” structure where two layers of them are stacked together.

    Flexible OLED, which uses polyimide instead of glass for its substrate, is more expensive than rigid OLEDD but offers more design freedom for vendors and the bezels can be made thinner.

    Apple had used flexible OLED for its iPhones since the iPhone X debuted in 2018.

    The company is likely using rigid OLED first for the iPad as the larger 10-inch range OLED panel size means it will have a low yield rate during production compared to the smaller 6-inch OLED panels it sues for phones.

    LTPO TFT offers 120Hz refresh rate. Apple is planning to apply the technology first on its upper tier models for its upcoming iPhone series launching later this year.

    What technologies Cupertino plans to apply for its OLED iPads going forward will determine spending plans to Samsung Display and LG Display for their OLED production capacities.





  • Share RecommendKeepReplyMark as Last Read
    Previous 10 Next 10