Universal Display Accelerates Sales Growth to 27%. The OLED IT Market is Poised for Strong Growth. OLED Tablets Triple in Size!
Universal Display returns to growth with a 27% increase in sales. Net profit could double by 2027. The OLED IT market is set for significant growth. For example, the display market is expected to grow from $42.1 billion to $58 billion by 2028. Universal Display (OLED) is a leader in the research, development and marketing of OLED technologies and materials. These are made available for use in displays and solid-state lighting. The company currently holds over 6,000 patents and licenses its OLED technologies to manufacturers of displays...
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- Universal Display returns to growth with a 27% increase in sales. Net profit could double by 2027.
- The OLED IT market is set for significant growth. For example, the display market is expected to grow from $42.1 billion to $58 billion by 2028.
Universal Display (OLED) is a leader in the research, development and marketing of OLED technologies and materials. These are made available for use in displays and solid-state lighting. The company currently holds over 6,000 patents and licenses its OLED technologies to manufacturers of displays used in smartphones, smart watches, tablets, notebooks and TVs, for example. Customers include Samsung, LG, Apple, Google and Xiaomi. PHOLED emission materials (PHOLED = phosphorescent OLED) are also being developed for the production of OLED displays and lighting panels. OLEDs are gaining ground in order to save energy, develop more aesthetic products, increase color quality, implement new form factors (curved displays) and improve cost efficiency. Universal Display aims to benefit from the potential of the OLED display market, which is expected to grow from $42.1 billion in 2023 to $58 billion in 2028. Mobile devices will be by far the largest market. Universal Display would therefore also benefit from a new upgrade cycle for AI smartphones.
On the night of 03.05.24, Universal Display reported its figures for the first quarter. According to this, the company achieved 27% growth to $165.3 million and a 43% increase in EPS to $1.19. After the business shrank in the previous two quarters, a growth impulse has now returned. According to the company, the OLED IT market is poised for significant growth, as OLEDs are gaining acceptance in smartphones and TVs and foldable devices also offer a sales opportunity. As a result, the company has specified its outlook. Revenue is seen at $635-675 million instead of $625-675 million. EPS could land at $4.70 and double by 2027.
In the conference call, management explained that OLED is playing an increasingly important role in shaping the future of displays. In particular, many new product announcements by Asus, HP, Dell, Acer, MSI and Razer Blade are cited as reasons why the OLED IT market is on the verge of a growth spurt. For example, the number of OLED tablets is expected to increase from 3.7 million units in 2023 to 12.1 million units in 2024. OLED notebooks are also expected to grow by 50 %. Research firms are also very positive about OLED TVs and foldable OLED products. Against this backdrop, Universal Display should be facing a new phase of growth.
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