Financial - Page 16

OLED microdisplay maker eMagin reported its financial results for Q1 2021. Revenues were $6.8 million up from $6.7 in Q1 2020. Operating loss was $2 million, up from $1.3 million in Q1 2020. Net loss was $7.4 million (including a $7.2 million warrant value loss).

At the end of March 31 2021, the company had $10.7 million in cash and equivalents. eMagin reports it is continuing to place down payments for equipment as part of the $39.1 million US government funds that were awarded last year to enhance its manufacturing capabilities in the US.

Universal Display reported its financial results for Q1 2021. UDC's revenues for the quarter were $134 million (down from $141.5 million in Q4 2020 and up from $112.3 million from Q1 2020) and net income was $51.7 million.

At the end of the quarter, UDC had $727 million in cash or equivalents. The company retained its 2021 guidance with revenues between $530 - $560 million.

Samsung Electronics reported its financial results for Q1 2021. The company's revenues was 65.4 trillion Won (around $58.7 billion USD). Operating profit increased 4% from the past quarter to $8.4 billion, as Samsung enjoyed strong sales of phones and consumer electronics, which offset slower sales of displays and semiconductors.

The past quarter saw a fall in the revenues of Samsung's display business, due to weak seasonality of mobile products and a shortage of chips.Compared to Q1 2020, however, earnings improved due to increased adoption of OLED displays in smartphones.

LG Display announced its financial results for Q1 2021. The company reported sales of $6.2 billion, an operating income of $469.5 million and net profit of $238 million. Sales were lower (by 8%) compared to Q4 2020, but higher by 46% from Q4 2020. LGD remained profitable for the third consecutive quarter.

LG Display announced its financial results for Q1 2021. The company reported sales of $6.2 billow, an operating income of $469.5 million and net profit of $238 million. Sales were lower (by 8%) compared to Q4 2020, but higher by 46% from Q4 2020. LGD remained profitable for the third consecutive quarter.

At the end of last month, Xiaomi introduced its first foldable OLED device, the Mi Mix Fold smartphone, with a main 8.01-inch HDR10+ 1860x2480 AMOLED display that folds inwardly, and an external 6.52-inch 90Hz HDR10+ 840x2520 AMOLED display.

The Mi Mix Fold is now shipping in China, starting at around $1,500. According to Xiaomi, it has sold around 40,000 units in the first minute - generating over $61 million in revenue for the smartphone maker.

Korea-based OLED materials maker Solus Advanced Materials (previously Doosan Solus, which was spun-off from DEM in 2019) announced that it will setup a $20.5 million OLED materials fab in Changzhou, Jiangsu province in China.

The new factory will be modeled after the company's existing Iksan (South Korea) fab and iwll produce the same high quality OLED materials. It will start operations by the end of 2022, and by 2025 it will have a capacity of 20 metric tonnes.

Earlier this month we reported that the US district court in Texas decreed that Samsung Display and Samsung Electronics are to pay $62.7 million in damages as the companies wilfully infringed upon two of Solas OLED fundamental OLED patents (USPTO #7,446,338 and #9,256,311).

Samsung proceeded to file a patent office challenge against the #311 patent, and apparantly Samsung won the challenge. The patent describes a flexible touch sensor that is wrapped around the edge of the display - and Samsung argued that as a flexible touch sensor is already known, this patent is "obvious". It appears as if Samsung will not have to pay the $35.4 million in damages for this patent.

In past years Apple had to pay millions of dollars to Samsung Display as a compensation for lower smartphone OLED orders. Apple is committed to buy a certain amount of displays, and this payment is a fine due to lower orders.

Due to lower OLED orders in 2021, analysts estimate that Apple, again, will have to compensate Samsung. The main fault is with lower sales of Apple's iPhone 12 mini. In total, according to reports, Apple reduced its OLED Orders for the iPhone 12 series by 20% to 75 million units in the first half of 2021.

Phosphorescent materials are based on the addition of a heavy-metal to the emissive materials, and most (if not all?) commercial materials use Iridium. The price of this rare metal has hit an all-time high last week.

Towards the end of last year, the price of one oz of Iridium was $1,760. Last week it hit $6,000 - the price jumped over 300% in just three months. Experts explain that the price has risen due to a disruption in the supply in South Africa (which supplies around 80% of the global market) and strong demand from the electrical and electrochemical sector.

OLED microdisplay maker eMagin posted its financial results for Q4 2020. Revenues for the quarter were $7.7 million (up from $7.3 million in Q3 2019) with contract revenue of $1.5 million reflecting continued work for a Tier-1 consumer company.

Net loss for Q4 2020 was $3.7 million. For the full year 2020, eMagin reports revenues of $29.4 million, up from $26.7 million in 2019. The net loss in 2020 was $11.5 million.