AP System, an organic light emitting diode (OLED) maker, is on a roll in the Chinese market that it won a contract to export OLED manufacturing equipments to a scale of KRW 18 billion to a Chinese display maker Truly.
The equipments to be supplied to Truly are two excimer laser annealing (ELA) equipments. These products have already been recognized of their reliability by China’s display panel makers including CSOT, GVO and Ever Display.
With this contract, AP System will supply equipments to most OLED facility investment projects currently being implemented in China. In addition, the number of Chinese customers for AP System has increased to seven. The accumulated amount of order is close to KRW 100 billion.
“We will be able to additionally supply encapsulation equipment to Truly around April,” said an AP System insider. “Our efforts to strengthen marketing in China since securing the first Chinese customer in 2012 are bearing fruits.”
AP System has been installing and operating exclusive marketing teams for the Chinese market entry and recently supplemented the human resources. This is because the company forecasts that China will continuously invest in this market as most display makers in China are in their initial stage of investment.
In particular, Chinese and Taiwanese companies are extensively investing in OLED panels. Accordingly, AP System plans to concentrate all its competencies on developing OLED panel market.
The AP System insider said, “This year, we will strive to win turn-key based orders to help in joint market entry by the related small-scale Korean equipment makers using our existing customers and marketing network at the same time as focusing on maximizing overseas sales.”