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   Technology StocksOLED Universal Display Corp


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To: ynotgoal who wrote (26483)9/22/2021 10:58:55 PM
From: mikeemarc
   of 26736
 
Thanks

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To: ynotgoal who wrote (26483)9/23/2021 9:29:05 AM
From: Ravid.Ron
   of 26736
 
The person who appeared as a guest is the author of the oled report. There are three authors of the document, and that man is an American stock analyst.

Message 33479880

get back soon

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To: Ravid.Ron who wrote (26485)9/23/2021 1:30:20 PM
From: Ravid.Ron
7 Recommendations   of 26736
 
Intro.
-All indicators are excellent compared to LCD, but compared to LCD, high cost and low lifespan are a problem, but conversely, if the price is eventually lowered and the lifespan characteristics are increased, there is a possibility that the penetration rate of OLED will rise steeply. So investors need to pay attention to OLED-related companies.

- There are two companies in the world with 100% OLED sales. Duksan Neolux of Korea and UDC of the US are companies whose sales are 100% generated from OLED. Among them, today we will look at UDC in the United States.

-UDC is a fabless company that holds more than 5,000 patents related to OLED. Fabless does not have a production plant, but consigns production to 'PPG Industry'. It mainly entrusts "Red, Green dopant" that goes into the OLED light emitting layer.

-The sales of these materials are 60% of the total sales, and the remaining 40% of the sales is generated by using about 5,000 patents to generate royalties or license revenue.

-In a nutshell, as the OLED market grows, material sales increase and royalties and license income also increase, so it can be seen as a company that can benefit greatly.

Question: If so, is there any possibility of breaking the monopoly structure in the Red/Green Dopant market?

- Investors have been concerned about this since 2013, but as a result, UDC is still an overwhelming monopoly.

- It maintains its monopoly position mainly through three strategies.
1. When the patent expires, UDC quickly releases more granular patents.
In 2014, for example, UDC's phosphorescent dopant patent was canceled in Europe because competitors filed patent lawsuits too much.
In the end, as the patent for "a phosphorescent dopant made of iridium" expired, UDC applied for two or three patents on how to make iridium's molecular structure and kept its monopoly structure.
2. In material technology, experience is more important than capital.
UDC is the company that has developed phosphorescent dopant products for the longest time, so it can be said that it maintains an overwhelming position.
For example, a company called Merk boasts a large capital force that is almost 70 times higher in terms of operating cash flow than UDC, but they have not yet entered the market for products made by UDC. The reason for this is that experience is an overwhelmingly important factor because it is a game that continuously searches for a recipe for a suitable molecular structure for the material.
3. Mass production technology is very difficult.
The light emitting material is made of a 'rare earth' called iridium, which has a very high melting point, so it is very difficult to construct a molecular structure.
Since this production experience has been accumulated for almost 20 years in 'PPG Industry and UDC Partnership', even if other companies start, they cannot keep up with mass production.

Two investment points of UDC
1. Commercialization of phosphorescent blue dopant
Because blue is the shortest in terms of the wavelength of light (more energy is required => lifespan decreases rapidly during device charging and discharging)
The root cause is identified. At an event called Display WEEK in May, Samsung Display announced a thesis to commercialize blue dopant using udc material. Considering the impact on UDC, it is an issue where sales almost doubled.
Of course, the sales volume of the red green blue dopant itself would be similar, but the selling price is much higher as the technical difficulty becomes more difficult from red to blue.
Green is more than twice as expensive as red. Even if the blue records the same sales, the selling price is likely to be more than double that of the green.
If commercialized, sales could more than double.
2. OVJP is a game changer for the display deposition process.
Current vacuum thermal evaporation has the disadvantage of consuming a lot of material, and inkjet printing has an issue that wears out the life of the material quickly.
OVJP can be seen as a technology to improve these two.

UDC risk
Although there is no fundamental business risk, the stock price of tech stocks may fluctuate due to the recent tapering issue, as the stock is overvalued at a PER of 50x.
So when investors invest in udc, it would be good to invest from a long-term perspective.
-------------------------------

Cheers

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From: Ravid.Ron9/23/2021 3:05:19 PM
2 Recommendations   of 26736
 
Samsung Display, consider first a review of 8.5G OLED 'Vertical Deposition' for IT Device.

Samsung Display decided to first review the organic material vertical deposition method for manufacturing 8.5G OLED panels for IT. Vertical deposition can minimize mask sagging in the organic material deposition process.

According to the industry on the 23rd, it was found that Samsung Display is developing an 8.5th generation organic light emitting diode (OLED) evaporator for IT products using a vertical deposition method with Japan's ULVAC. IT products refer to tablets, laptops, and monitors. The 8.5th generation (2200x2500mm) OLED panel is more economical than the 6th generation (1500x1850mm) OLED panel.

The vertical deposition method is a method of stacking organic matter by sending vaporized (converted to gas) toward the glass substrate erected in the vertical direction to the ground. The horizontal deposition method mainly used in the 6th generation OLED deposits the vaporized organic material from the bottom up toward the glass substrate floating in the horizontal direction with the ground.

The vertical deposition method that Samsung Display is reviewing first can minimize the problem of 'mask sagging'. In the vertical deposition method, not only the glass substrate, but also the fine metal mask (FMM) required for organic deposition of red (R) green (G) blue (B) OLED is used in a vertical direction to the ground, so the drooping phenomenon in the center of the FMM is small.

On the other hand, 6th generation OLED with horizontal deposition method uses a long band-shaped FMM stick when depositing RGB organic materials, and the center part of the FMM stick sags down due to gravity. To prevent this, the FMM stick is tensioned (pulled) on the large frame and welded.

It is known that Alvac has secured a R&D space near the Samsung Display factory and is developing vertical deposition equipment there.
...

thelec.kr

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From: Ravid.Ron9/23/2021 10:52:56 PM
1 Recommendation   of 26736
 
LG Display to supply 'Cadillac EV' POLED... GM Trade Expansion

LG Display's automotive display business is cruising. The first electric vehicle (EV) of Cadillac, a premium brand of General Motors (GM) in the US, will also be equipped with plastic organic light emitting diodes (POLEDs).

According to the industry on the 24th, LG Display is planning to supply 33-inch POLEDs to the Cadillac EV ‘Lyric’.

Previously, LG Display supplied 38-inch POLEDs to Cadillac’s large sports utility vehicle (SUV) ‘Escalade’. The central instrument cluster consists of 14-inch, 7-inch and 17-inch panels.

The electric SUV Lyric was unveiled last April. It is based on GM's modular electric vehicle platform Ultium Powertrain. There are 12 modules. It will be equipped with nickel, cobalt, manganese, aluminum (NCMA) batteries produced by Ultium Cells, a joint venture between GM and LG Energy Solutions (JV). The battery has a capacity of 100 kilowatt-hours (kWh) and a driving range of 300 miles (about 483 km) when fully charged.

In the case of Lyric, the market response is so positive that all of the prepared volumes were signed within 10 minutes of starting the pre-order on the 18th (local time).

GM plans to begin production of lyric at its Tennessee plant in the US in the first quarter of next year. Shipping is expected to begin in the first half of the year. LG Display is also expected to provide POLEDs on schedule.

LG Display is a strong player in the automotive display field. According to market research firm Omdia, LG Display accounted for 25.9% (based on sales) in the market share of high-value-added displays for vehicles over 10 inches in the first quarter. 1 in the industry for 11 consecutive quarters. If it is limited to OLED for electric use, it is a de facto monopoly system with more than 90%.

The secret is to dominate the market. In the process of expanding the business area from large OLEDs to small and medium-sized OLEDs, they started targeting the battlefield, which was a blue ocean. Due to the nature of the auto industry, which requires high reliability, it does not change partners well. This is a favorable condition for LG Display, which has dominated the market. This means that there is a high possibility that the transaction will continue with major customers such as GM, BMW, and Benz.

Until now, POLED has been used only for premium cars, and most of them have been applied to LCD. POLED has the advantage of being light and having high power efficiency. As it is self-luminous, it is advantageous in terms of visibility (easy identification). The use of POLED in EVs and autonomous vehicles is expected to increase in the future. This Lyric contract is the result of the same thing.

An official from the display industry said, “The size of the automotive display market has already grown to a level that is not small at more than 10 trillion won. As it has high growth potential in the future, it will have a positive impact on LG Display’s performance.”

Meanwhile, the alliance between LG Group and GM is expanding. Focusing on the battery JV, ?LG Magna (powertrain) ?LG Display (POLED), LG Innotek (converter), etc. are increasing their transactions with GM.

ddaily.co.kr

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From: Ravid.Ron9/24/2021 3:53:54 AM
   of 26736
 
BOE supplies OLED to iPhone 13 ... Gap still remains

Chinese display maker BOE has received conditional approval for the supply of ‘iPhone 13’ series organic light emitting diode (OLED) panels. Although domestic technology is still ahead, there is an argument that the super-gap should be maintained through investment.

According to foreign media such as the related industry and Taiwanese IT media DigiTimes on the 24th, BOE received conditional supply approval for Apple's new iPhone 13 OLED panel. If BOE meets the standards required by Apple, it can supply OLED displays for iPhone 13.

BOE is expected to supply displays to new products following the iPhone 12. BOE, which has been knocking on the door to build Apple's supply chain, succeeded in entering the market starting with the iPhone 12. Stone Partners, a market research firm, estimated that BOE will supply OLED panels for the iPhone 12 for 10 to 15 million units.

?BOE's onslaught?... "LTPO TFT technology gap"

Although the iPhone 12 display that BOE supplies to Apple is small, it has significant implications in that the target is an OLED panel. Chinese companies took the lead in the liquid crystal display (LCD) sector through an offensive in low-cost quantities, and OLEDs also quickly followed suit.

According to market researcher Omdia, Chinese companies' share of the global LCD TV panel market this year was 60.7%, surpassing Korea (11.2%), and the market share of small and medium-sized OLED panels also rose to 15%.

If China grows rapidly in the OLED sector, domestic display makers could shrink. The red light will also come on in the plan to outrun Chinese companies based on a higher level of competitiveness in OLED technology.

However, the technology gap between the two countries is still significant, suggesting that it will take more time for BOE to catch up with domestic companies. Apple installed a low-temperature polycrystalline oxide (LTPO) thin film transistor (TFT)-based OLED in the Pro/Pro Max model for the first time in the iPhone 13 series. This is a technology that enables smooth screen switching by increasing the refresh rate while reducing power consumption. It is evaluated that BOE is having difficulties in implementing the technology, unlike domestic companies.

Moon Dae-gyu, a professor of Display Materials Science and Engineering at Soonchunhyang University, said, “LTPO TFT is a new technology that has just been released.

An official from the display industry said, “Considering the time required for panel production and the timing when Apple closes the season supply, it seems difficult for BOE, which received conditional approval in mid-September, to ship products within this year. It can only be interpreted that there is a difference in technology or mass production capacity that did not enter the company,” he explained. He added, “We need to be vigilant about how BOE has advanced, but we believe that it is false to say that BOE has caught up with all domestic companies.”

...

sisajournal-e.com

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To: Ravid.Ron who wrote (26487)9/24/2021 9:19:10 AM
From: slacker711
   of 26736
 
Samsung Display, consider first a review of 8.5G OLED 'Vertical Deposition' for IT Device.



I wonder whether vertical deposition will impact the grams per square meter needed to coat the substrates over the short and/or long-term. Samsung has become substantially more efficient over time at using UDC's materials and it seems likely that the initial production with vertical deposition will waste more materials.

and maybe over the long-term as well?

I can't find much information but vertical deposition seems like it inherently will end up with less material on the substrate.

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To: slacker711 who wrote (26490)9/24/2021 10:00:07 AM
From: Ravid.Ron
2 Recommendations   of 26736
 
Agree.
Looking back at past articles

"The vertical process can eliminate the problem of substrate sagging, which is the biggest problem of equipment enlargement, and when a plane source is applied, there is no movement of the substrate unlike the deposition technology that applies a linear source, so uniform deposition is possible even on a large area. There are also advantages."
-- quote from thelec.kr

oledon.co.kr

Currently, it is expected that more materials will be used because it is not uniformly flattened in small and medium-sized OLED panels, and material use is expected to decrease (small) as the proficiency of the vertical deposition process increases.

In addition, among the contents I saw in the news, it is said that panel companies (SDC, LGD, Etc..) are trying to use as little as possible because the material of UDC is expensive and the rate of waste is quite high.
However, panel companies have no other alternative.

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From: Ravid.Ron9/25/2021 4:39:48 AM
2 Recommendations   of 26736
 
Seven experts from four leading OLED countries (Korea, the U.S., Japan, and China), including Steven Forrest, a professor at the University of Michigan, will participate in the symposium to present the latest research on technologies such as high-efficiency blue phosphorescent OLED, ultra-fluorescent OLED, and related future research directions.



n.news.naver.com

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To: Ravid.Ron who wrote (26492)9/25/2021 8:15:07 AM
From: Longtimelurker
   of 26736
 
Isn’t the high efficiency blue phosphorescent OLED emitter they are discussing actually TADF?

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