SUNIC System Co., Ltd., which has developed its own 6th generation OLED deposition equipment, is officially making a growth trajectory. It was found that it made $55.1 million (60.7 billion KRW) of sales just from first half of this year which surpasses its last year’s performance. Shortly it will be able to become a first South Korean business to make sales of more than $90.7 million (100 billion KRW) in a year from markets for OLED deposition equipment that have high entry barriers.
According to an industry on the 9th, SUNIC System Co., Ltd. made $55.1 million (60.7 billion KRW) of sales in first half of this year by starting to supply 6th generation OLED equipment that mass-produces small and medium OLED panels. Its sales from first quarter ($14.5 million (16 billion KRW)) to second quarter ($40.6 million (44.7 billion KRW)) grew rapidly and they already surpassed its last year’s performance ($26.1 million (28.8 billion KRW)).
SUNIC System Co., Ltd., which was established in 1990, is a business that has focused on researching on OLED deposition and encapsulation equipment for more than 20 years. Although it had supplied variety of OLED deposition equipment such as 2nd generation, 4th generation, and 5th generation to South Korean and foreign panel manufacturers, most of them were for R&D purposes. It partially had supplied its equipment to China’s 2nd generation OLED panel lines and lines for OLED lights.
A reason why SUNIC System Co., Ltd. is booming this year is due to investments that are made by South Korean display industries for extension of OLED facilities. As OLEDs are beginning to be used more widely from Smartphone markets, demands for deposition equipment have grown tremendously. SUNIC System Co., Ltd. made such performance by supplying 6th generation equipment based on long development of technologies and experiences from actual mass-production lines.
It is meaningful that SUNIC System Co., Ltd. is making such progress because it is closely related to changes in landscape of global OLED deposition equipment industries.
Currently Japan’s CANON TOKKI is dominating markets for OLED deposition equipment. This is why many display industries are lining up to purchase equipment from TOKKI.
If equipment from SUNIC System Co., Ltd. is recognized for its competitive edge after being used at actual mass-production lines, SUNIC System Co., Ltd. will be able to greatly change supply network of equipment in the future.
“Because CANONTOKKI is the unrivaled number 1 business for OLED deposition equipment, it is true that panel manufacturers that want to produce panels on stable condition will have worries about using new equipment that was not used for mass-production before.” said a representative for an industry. “If panels are mass-produced without any problems through SUNIC System Co., Ltd.’s equipment, there will be changes to global supply network for equipment in the future.”
Although SUNIC System Co., Ltd. is making visible performance, it is making a careful approach to everything since its equipment needs to successfully mass-produce panels.
“We are reinforcing manpower and expanding production capabilities of equipment to produce supplies smoothly.” said a Chairman Park Jae-kyu of Donga ELTEK which is a mother company of SUNIC System Co., Ltd. “Since SUNIC System Co., Ltd. has plenty of experience in technologies for all processes of mass-production of OLEDs, it is going to slowly increase its share in markets for OLED deposition equipment that are formed based on particular foreign businesses.”
Because investments into OLEDs are taking place regularly, it is estimated that SUNIC System Co., Ltd.’s yearly sales will easily surpass $90.7 million (100 billion KRW).
SUNIC System Co., Ltd. has come to a belief that it now has stepping stones to make regular growth and is going to push for IPO (Initial Public Offering) in next year.
Staff Reporter Bae, Okjin | withok@etnews.com