[Interview] Go Beomgyu, CEO of HiDeep, "Achieved 10x Sales with Stylus Pen"

Go Beom-gyu, CEO of HiDeep
Focusing on Expansion After Listing

Attention on 'On-Cell Flexible OLED Touch Technology'
"We Will Prove Our Value Through Sales"

Beomgyu Go, CEO of HiDeep

[Asia Economy Reporter Minji Lee] We are confident that once mass production of stylus pens begins in the second half of next year, sales will increase more than tenfold compared to now. We will ensure a win-win for both SPAC shareholders and HiDeep investors," said Go Beom-gyu, CEO of HiDeep.

CEO Go, who showed confidence ahead of the company's listing next month, has been running the company for over 10 years. He said, "We have focused solely on developing technology to make it easier for users to use mobile devices comfortably," emphasizing, "Now is the time to prove our value through sales." He added, "We will focus on expanding the company after listing, based on our unique 'On Cell Flexible OLED' and 'Stylus Pen' technologies."

HiDeep develops comprehensive solutions including semiconductor chips, algorithms, sensors, and pens that enable mobile devices such as smartphones, tablets, and watches to operate when touched by a human hand or stylus pen. Major clients include domestic S company and Chinese H and L companies, all global smartphone manufacturers. The company received a technology special review during the preliminary listing examination and is set to debut on the KOSDAQ market through a merger with NH SPAC 18.

The company's core technologies can be summarized into three categories. The largest revenue segment is 2D touch technology, including 2D and 3D touch and stylus pens. This technology involves placing sensors on displays so that the sensors process signals through sensing. Although it is a generalized technology, HiDeep's 'On Cell Flexible OLED' touch technology has recently gained attention as mobile device manufacturers switch to organic light-emitting diode (OLED) displays.

CEO Go explained, "With the introduction of On Cell Flexible OLED mainly in premium mobile devices, screens have become thinner and wider, but the distance between the sensor and display has narrowed, causing increased noise. Additionally, some manufacturers have thickened sensors to prevent noise, leading to higher battery consumption. HiDeep has solved these issues by implementing touch technology for On Cell Flexible OLED." This technology has been applied to the fourth-generation smartwatch released by a major domestic company. Given that the global smartwatch market is expected to grow at an average annual rate of 28% until 2023, additional sales growth is anticipated.

HiDeep's additional growth driver is stylus pen technology. As OLED adoption enlarges screens, demand for pens usable on mobile devices is rising, but CEO Go believes no one has yet perfected the stylus pen. He said, "The pen released by a North American client does not require a sensor but needs a battery, making it heavy and less portable. The pen from a domestic client does not require a battery but needs a sensor for pen recognition on the screen, which is a drawback." He emphasized, "HiDeep plans to launch a globally standardized stylus pen that compensates for the shortcomings of both companies." Mass production of the pen is scheduled to begin in the second half of next year, and the company is reportedly receiving many inquiries from major clients.

HiDeep expects sales of over 20 billion KRW this year. The short-term performance driver is sales related to smartwatches. Smartwatch sales, which were only 920 million KRW in the second quarter of last year, surged to 6.07 billion KRW in the fourth quarter, so sales are expected to increase further this year. Assuming stylus pen sales begin in earnest in the second half of next year, sales are projected to grow 400% compared to this year and exceed 1200% in 2024.

Meanwhile, HiDeep is preparing for an extraordinary general meeting of shareholders on the 23rd for the SPAC merger listing. The stock purchase rights will end on the 12th of next month, and the merger with NH SPAC 18 is scheduled for the 26th of the same month. The new shares are expected to be listed on May 12.

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