This year could be the turning point in organic LED displays technology. That’s according to Universal Display Corporation (UDC) CEO Steve Abramson, who made the prediction as he announced that the company have nearly doubled their sales and halved operating losses in fiscal 2010.
UDC sell crucial chemicals used in OLED production, and list as major customers both Samsung and LG Display—the two major drivers of the OLED market using the technology in their mobile handsets.
Abramson went on to list key developments expected in 2011, as OLED technology matures and migrates to larger-scale displays such as tablet computers, automotive navigation and dashboard displays, and perhaps even televisions.
In terms of the impact of this growing market traction on UDC’s financial results, the company reported a strong improvement in fiscal 2010, though they still posted a hefty net loss.
Total revenue jumped by 93% in 2010 from the previous year to reach $30.5 million, of which approximately two-thirds related to “developmental” sales, and one-third “commercial”.
Looking to the future, UDC’s CFO Sidney Rosenblatt echoed Abramson’s positive thoughts, saying: “The appetite for bright, beautiful and more energy efficient and environmentally friendly displays is creating strong demand for the use of OLEDs in a variety of applications.”
“To further leverage our extensive intellectual property assets, we are actively pursuing opportunities in the general lighting market where our technology can demonstrably improve OLED performance and efficiency.”
While the lighting market remains a much longer-term prospect for OLEDs than consumer electronics applications, UDC is working closely with the Indian manufacturing giant Moser Baer on a white OLED lighting project with the US Department of Energy.
