CEO Joo-seon Choi declared at IMID2022
Expected to put 4 trillion won in facility operation in 2024
Plan to enter the micro OLED market
Challenge in the era of $50 billion in annual sales
Samsung Display has decided to invest in 8th-generation of small and medium-sized organic light emitting diodes (OLEDs). It will also enter the micro-display market for virtual reality (VR) and augmented reality (AR). Samsung Display is challenging to meet $50 billion in annual sales by breaking away from OLED centered around smartphones, and expanding the self-luminous display business to IT devices and automotive displays.
At the opening ceremony of IMID2022, an international information display conference held in BEXCO, Busan, on the 24th, Joosun Choi, CEO of Samsung Display, announced this plan during the presentation with the topic of ‘Changing display industry with disruptive innovation.’ CEO Choi officially announced the 8th generation investment plan for the first time, and aimed to operate it by 2024. The exact amount of the investment has not been disclosed, but it is estimated to be in the range of KRW 3 to 4 trillion. CEO Choi said, “The self-luminous display market will grow rapidly in the future, and will reach about $100 billion by 2030. We will invest in 8th generation IT OLED as a strategy to achieve $50 billion in annual sales, which double the current sales.”
This implies that the currently centered around 6th generation small and medium-sized OLED panel manufacturing technology will be converted to 8th generation. The large-scale investment is anticipating the Apple’s first launch of an OLED panel equipped iPad equipped in 2024. Samsung Display is also accelerates investment in microdisplays for metaverse devices. It is a stepping stone to preoccupy the VR and AR market, which will grow exponentially in the future. CEO Choi said, “The market will open if microdisplays provide customer value with differentiated technology. It will bring about a technological paradigm shift in which displays evolve into semiconductors.”
It is understood that Samsung Display is developing several global big tech and micro displays. It will secure technologies through two tracks: micro OLED and micro LED. Samsung Display will mass-produce microdisplays from 2024. CEO Choi announced that he would reinforce the No. 1 leadership in the self-luminous display market, which exhibits a growing momentum.
CEO Choi said, “We will lead the market with an all-in-one sensor OLED equipped with various sensors, touch-integrated technology combined with a large foldable panel, and a foldable display with enhanced innovation and differentiation. We plan to expand our IT and vehicle display businesses in cooperation with global customers.” CEO Choi also emphasized on environmental, social and governance (ESG) management. Samsung Display has built an ESG system that reflects on environmental values from product planning to disposal. The recently introduced Eco Square OLED Plus reduces power consumption by 52% compared to existing OLED panels.
CEO Choi said, “The new generation of OLED will create an opportunity for a leap forward in the display industry. The industry and academia will cooperate to achieve greater accomplishment.”
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By Staff Reporter Sora Park (srpark@etnews.com)