[Public Notice+] Youngwoo DSP Signs OLED Inspection Equipment Supply Contract with Chinese BOE

[Asia Economy Reporter Minji Lee] Display equipment specialist Youngwoo DSP announced on the 30th that it has signed an approximately 10.9 billion KRW OELD inspection equipment supply contract with Chinese display company Chongqing BOE Display Technology Co., Ltd. (hereinafter BOE). This contract represents 10.8% of the previous sales, and the contract period is until February 26, 2021.

The company has been continuously signing supply contracts with BOE, including an order worth 22.4 billion KRW last October. Through differentiated technology, it has successfully secured orders not only from BOE but also from various Chinese companies such as CSOT and Tianma, solidifying its position in the Chinese market.

According to UBI Research, OLED shipments in the second half of 2020 are expected to reach 383 million units and 28 billion USD, increasing by 65.5% and 107% respectively compared to the previous quarter. In particular, although China’s OLED shipments currently account for 23% of the total market in 2020, it is projected to expand to 45% by 2025, indicating continued investment.

A Youngwoo DSP official stated, “We are continuing to increase sales through ongoing OLED inspection equipment supply contracts,” adding, “We will expand company growth not only through our existing OLED inspection equipment business but also by successfully entering new businesses such as secondary battery equipment and smart healthcare.”

Meanwhile, regarding its entry into the smart healthcare industry, Youngwoo DSP is developing new businesses including a pharmaceutical storage facility requiring precise management of drug intake, release, and disposal, as well as a sleep capsule for better sleep. The pharmaceutical storage facility is a management system that accurately tracks the intake, release, and disposal status of drugs, greatly enhancing the reliability of drug management and supervision, and a patent has been filed for this system.

This content was produced with the assistance of AI translation services.