Financial - Page 13

Samsung Electronics reported its financial results for Q1 2022. Revenues hit a new record of 77.78 trillion Won ($61.2 billion USD) and the operating profit was 14.12 trillion Won ($11 billion USD).

Samsung Display's revenues were 7.97 trillion Won ($6.3 billion USD) with an operating profit of 1.09 trillion Won ($900 million USD). Samsung says its mobile display earnings improved from 2021, led by strong demand for OLED smartphone displays and growing adoption of OLED displays in laptops and gaming devices.

According to reports in China, Royole did not yet manage to obtain enough customers for its flexible OLED displays to fund its business, and the company requires a new injection of cash in order to continue its operation.

Royole has started mass producing flexible OLED displays back in 2018 at its Quasi 6-Gen fab in Shenzhen, and has since announced plans to build a new fab in Qingdao. Royole developed innovative OLED technologies and devices, and demonstrated several innovative displays, but it seemed it did not manage to find large actual customers for its displays.

Poland-based TADF developer Noctiluca went public at the Polish NewConnect stock exchange last week. The company now trades under the NCL ticker.

Noctiluca did not raise any funds in this IPO, as it has no need for more funds at this stage, but this move will enable some stock holders to realize their funds and other to join as stakeholders in the company.

Business Korea is reporting that the Korean Government may designate OLED technology as a "national strategic technology", which means that companies will be given tax benefits, to encourage further investments and R&D in the OLED industry.

This new designation was proposed by the Korea Display Industry Association and the Ministry of Trade, Industry and Energy. Currently there are 34 national strategy technologies in Korea, including EV batteries, advanced semiconductors and vaccine technologies.

Universal Display reported its financial results for Q4 2021. Revenues for the quarter were $146 million, while net income was $46 million

UDC's 2021 revenues were a record high of $554 million, with a net profit of $184 million. UDC expects the OLED industry to continue to grow in 2022, and the company believes its revenues in 2022 will be between $625 million to $650 million (an increase of 12% - 17%).

According to reports from Korea, Samsung decided to use the same OLED material stack (the so-called M11 stack) in its Galaxy S22 Ultra smartphone (the M11 was used in the S21 Ultra phone). The lower-end Galaxy S21 still uses the M10 stack, same as in the S20.

The lower-end model did get an update - the S22 Plus has been upgraded to the M11 stack (the S21 Plus used the M10 stack).

UK-based PolyPhotonix announced that it has raised $10 million from Prevail Partners, which will help the company perform trials for the FDA with hopes to market its Notura eye mask in the US.

PolyPhotonix's Noctura 400 is a sleep mask that uses green OLED lighting panels for a non-invasive treatment for diabetic eye disease (DED). which helps patients with Diabetic Retinopathy. Pioneer supplies the OLED panels for PolyPhotonix.

LG Display reported its Q4 2021 financial results. Revenues increased 18% compared to Q4 2020, and reached $7.3 billion, while net income fell to $150 million down from $500 million a year ago. LGD says that the drop in profit is due to one-off costs related to employee bonuses, and lower LCD panel prices.

For the whole of 2021, LG Display recorded all-time high revenues of $25 billion, with a 23% increase over 2020.

OLED microdisplay maker eMagin posted its preliminary financial results for Q4 2021. eMagin sees increased product revenues in the range of $6.8 to $7 million (up 10% to 13% from Q4 2020). Contract revenues were about $0.2 million (down from $1.5 million in Q4 2020).

eMagin says that its core military business is enjoying a ramp up in volume, and the company's backlog at the end of the year increased 26% from the end of 2020. The lower contract revenues were primarily due to timing of development work for a tier-one consumer customer, but eMagin continues to work on this project and anticipates ongoing contract revenue with this customer.

Universal Display announced that Tianma Micro-electronics has extended its long-term OLED material supply and license agreement. UDC will continue to supply Tianma with its phosphorescent OLED materials and technologies.

UDC did not disclose any more details or financial terms. The original agreement between Tianma and UDC was signed in 2016.