Universal Display reported its financial results for Q1 2023, with revenues of $130 million (down from $150 million last year) and net income of $40 million (down from $50 million in 2022).
UDC says that near-term demand for OLED displays is still soft, but the company remains confident on the long-term growth path for OLED displays. Looking ahead into 2023, the company expects yearly revenues to be in the range of $550 million to $600 million.
Regarding its upcoming blue emitter, UDC continues to make "excellent progress" and believes it is still on track to introduce its blue emitter to the commercial market next year.
Posted: May 04,2023 by Ron Mertens
