Hansong Neotec signs OLED equipment supply contract with China's 'EDO'..."Benefiting from China's expansion"

[Asia Economy Reporter Hyunseok Yoo] Hansong Neotek announced on the 13th that it has signed an organic light-emitting diode (OLED) equipment supply contract worth 2.4 billion KRW with EverDisplay Optronics (EDO), a Greater China display company, following LG Display. This amount corresponds to 12.58% of Hansong Neotek's sales last year.

EDO is a leading Chinese display company with customers including Greater China smartphone makers such as Xiaomi, Oppo, Vivo, and Lenovo. In January, it raised 10 billion yuan (approximately 1.7 trillion KRW) through an IPO on the Shanghai Stock Exchange’s STAR Market (a stock market focused on high-tech companies). It is expected to soon expand its 6th generation OLED factory.

EDO is recognized for its excellent technology, having succeeded in mass-producing OLEDs for the first time in China in 2014. However, due to insufficient production capacity (CAPA), it has struggled to secure market share until now. With this investment as a turning point, it is expected to actively promote OLED line expansion and strengthen market competitiveness.

A Hansong Neotek official said, “Not only EDO but also Chinese companies such as BOE, CSOT, Tianma, and HKC are expanding OLED displays based on government support,” adding, “Since it is estimated that there are more than 20 OLED production lines currently under expansion or planned, a full-scale equipment investment cycle seems to have arrived.”

He continued, “Hansong Neotek counts most Greater China companies as clients and is the only domestic OLED equipment company with a Chinese office, enabling rapid local response,” adding, “In particular, it is capable of manufacturing OLED equipment for all fields including P-OLED, large W-OLED, and Metaverse XR-OLED, so benefits from the expansion of Chinese companies are expected.”

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