SNU extends contract with Truly
SNU Precision (080000.KS) a South Korean based producer of OLED deposition equipment, has extended its contract with Truly Semiconductor. Hong Kong based Truly (0732.HK) is a producer of both LCD and OLED displays through its fabs in Huizhou, China. The company is currently running a Gen 4.5 LCD and OLED fab, which it is building out (phase 2) with a target date of January 2018. We believe current capacity at that fab is ~15,000 OLED sheets/month. Truly is also building a Gen 6 LTPS OLED fab, although the target date for that fab is still undetermined (we have seen dates from 4Q 2018 to 1Q 2020). We assume that SNU is providing deposition equipment for either the Gen 4.5 or Gen 6 build-outs as their DSP deposition tools are scalable to substrate sizes over Gen 5, as are their thin film encapsulation systems.
Truly is primarily known for its wide variety of relatively small panel displays, although the Truly name is not a brand known for its own products. They are a supplier to a number of display segments including appliances, automotive, and mobile devices, but have been making a concerted effort in the OLED space, albeit with most of their OLED panels being under 3” and more often mono color displays. On a gross capacity basis the company currently has a less than 1% share, which will likely remain under 1% even with the potential build-outs by 2020, as other producers also add both LCD and OLED capacity. Truly has shown a number of flexible displays over the last two years, and the new OLED lines are expected to be able to handle flexible substrates, but we expect they will face the same challenges as other producers when bringing that technology into mass production. We expect to see newer Truly flexible displays at the upcoming SID conference next month.
Truly is primarily known for its wide variety of relatively small panel displays, although the Truly name is not a brand known for its own products. They are a supplier to a number of display segments including appliances, automotive, and mobile devices, but have been making a concerted effort in the OLED space, albeit with most of their OLED panels being under 3” and more often mono color displays. On a gross capacity basis the company currently has a less than 1% share, which will likely remain under 1% even with the potential build-outs by 2020, as other producers also add both LCD and OLED capacity. Truly has shown a number of flexible displays over the last two years, and the new OLED lines are expected to be able to handle flexible substrates, but we expect they will face the same challenges as other producers when bringing that technology into mass production. We expect to see newer Truly flexible displays at the upcoming SID conference next month.
Truly Flexible OLED Displays - Source: Truly
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