MagnaChip Expands High Frame Rate DDIC Product Line for OLED Smartphone Displays

Rhea-AI Summary

MagnaChip Semiconductor Corporation (NYSE: MX) has expanded its High Frame Rate (HFR) OLED DDIC product line for smartphones, introducing five new products. This technology enhances image quality by increasing frames per second, essential for 5G smartphones. Since starting HFR DDIC development in 2018, MagnaChip has achieved significant milestones, including mass production of 120Hz DDICs. The company forecasts a growing demand in the 5G market, with global shipments expected to reach 1 billion units by 2023. MagnaChip plans to introduce more HFR products, solidifying its position in the premium OLED market.

Positive

• Introduction of five new HFR OLED smartphone DDIC products.
• First company to mass produce 120Hz DDICs, now supporting 144Hz for FHD+ displays.
• Increasing market demand for 5G smartphones, with shipments expected to reach 1 billion units by 2023.

Negative

• None.

SEOUL, South Korea and SAN JOSE, Calif., July 15, 2020 /PRNewswire/ -- MagnaChip Semiconductor Corporation ("MagnaChip") (NYSE: MX) announced an expansion of the company's High Frame Rate (HFR) OLED DDIC product line for smartphones with the introduction of new DDIC products. HFR is a technology that improves the image quality by increasing the number of frames (images) used per second. This is a vital technology for 5G smartphones, as it facilitates a vivid and smooth visual experience for users.

Anticipating the surge in demand for the 5G smartphone market, MagnaChip has launched five HFR OLED smartphone DDIC products to date, following its early start in research and development efforts. In 2018, MagnaChip began development of a 120Hz HFR DDIC for FHD+ OLED smartphone displays and, in 2Q 2019, became the first company in the world to start mass production. All of MagnaChip's HFR OLED products now support 144Hz for FHD+ displays and 120Hz for QHD+ displays. 

In particular, with the recent release of a super small size product with the optimal frame rates of FHD+ at 144Hz and QHD+ at 120Hz, MagnaChip is solidifying its standing among the leaders in the premium OLED DDIC market. MagnaChip's products are renowned for their robust performance and stability in the market, and MagnaChip has consistently earned design wins with global mobile phone manufacturers promptly after launch.

The growth in the global smartphone market is expected to be driven by the wave of new 5G smartphones from the leading smartphone manufacturers.  According to Omdia, a market research firm, global 5G smartphone shipments will reach 200 million units in 2020 and will grow five times to 1 billion units, accounting for 60% of all smartphone shipments in 2023. Recognizing this market momentum, MagnaChip is rapidly expanding its HFR OLED DDIC product line with the new products announced today, and it plans to roll out additional new products in the near future.

"The 5G smartphone industry is booming and with our innovative HFR OLED technologies, we will continue to take the lead in developing high-end smartphone DDICs," said YJ Kim, Chief Executive Officer of MagnaChip.  

About MagnaChip Semiconductor

MagnaChip is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, IoT, consumer, industrial and automotive applications. The Company provides a broad range of standard products and manufacturing services to customers worldwide. MagnaChip, with more than 40 years of operating history, owns a portfolio of approximately 2,950 registered patents and pending applications, and has extensive engineering, design and manufacturing process expertise. For more information, please visit www.magnachip.com. Information on or accessible through MagnaChip's website is not a part of, and is not incorporated into, this release.

CONTACTS:

United States (Investor Relations): So-Yeon Jeong Head of Investor Relations Tel. +1-408-712-6151 Investor.relations@magnachip.com	USA media / industry analysts: Mike Newsom LouVan Communications, Inc. Tel. +1-617-803-5385 mike@louvanpr.com	Korea / Asia media: Chankeun Park Director of Public Relations Tel. +82-2-6903-5223 chankeun.park@magnachip.com

 

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SOURCE MagnaChip Semiconductor Corporation

FAQ

What are the new products launched by MagnaChip (MX) for smartphones?

MagnaChip announced five new High Frame Rate (HFR) OLED smartphone DDIC products.

Why is the HFR technology important for 5G smartphones?

HFR technology improves image quality by increasing frames per second, essential for a smooth visual experience in 5G smartphones.

When did MagnaChip (MX) begin developing its HFR DDIC technology?

MagnaChip started development of its HFR DDIC technology in 2018.

How many HFR OLED products has MagnaChip (MX) launched to date?

As of now, MagnaChip has launched five HFR OLED smartphone DDIC products.

What is the expected growth for the global 5G smartphone market?

Global 5G smartphone shipments are expected to grow from 200 million units in 2020 to 1 billion units by 2023.