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Magnachip Enters Full-Scale Mass Production of High Frame Rate OLED DDIC for 5G Smartphones with QHD Displays

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Magnachip Semiconductor Corporation (NYSE: MX) has initiated full-scale mass production of its 120Hz High Frame Rate (HFR) OLED display driver IC for QHD flexible displays. This product is designed for 5G smartphones and supports 1440 x 3360 resolution, utilizing advanced 28nm process technology. The global market for 5G smartphones is rapidly expanding, projected to rise from 220 million units in 2020 to 1,150 million by 2023, accounting for nearly 80% of smartphone shipments. CEO YJ Kim emphasized the company's commitment to innovation and meeting future design requirements.

Positive
  • Initiated full-scale production of 120Hz High Frame Rate OLED DDIC for QHD displays, enhancing image quality for 5G smartphones.
  • Utilized advanced 28nm process technology, indicating technological leadership and potential competitive advantage.
  • Positioned to capitalize on the growing global market for 5G smartphones, expected to rise to 1,150 million units by 2023.
Negative
  • None.

SEOUL, South Korea, Feb. 18, 2021 /PRNewswire/ -- Magnachip Semiconductor Corporation ("Magnachip") (NYSE: MX) announced today that the Company has commenced full-scale mass production of its first 120Hz High Frame Rate (HFR) OLED display driver IC (DDIC) for QHD flexible displays, followed by the successful release and initial production.

The frame rate refers to the number of frames (images) displayed per second on the screen, so a higher frame rate results in better image quality. Magnachip's new OLED DDIC product supports 120Hz HFR for QHD displays, which is optimized for 5G smartphones.

This OLED DDIC is also designed for 1440 x 3360 resolution screens and is being integrated into high-end 5G smartphones produced by global manufacturers. With the sophisticated HFR feature and utilization of the most advanced 28nm process technology in the pure-play foundry industry, Magnachip plans to establish a firm foothold in the premium 5G smartphone market.

The global 5G smartphone market is growing rapidly with the ongoing release of new 5G smartphones from the leading smartphone manufacturers. According to Omdia, a market research firm, global 5G smartphone shipments reached 220 million units in 2020 and would grow five-fold to 1,150 million units by 2023, which will account for almost 80% of all smartphone shipments that year.

"We have further strengthened our customers' trust in and recognition of our technology and product quality with the mass production of this new DDIC," said YJ Kim, CEO of Magnachip. "We will continuously build the foundation for the future design requirements and expand new opportunities for foldable and 5G smartphones."

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 to customers worldwide. Magnachip, with more than 40 years of operating history, owns a portfolio of approximately 1,200 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 is the significance of Magnachip's new 120Hz OLED display driver IC for QHD displays?

The new 120Hz OLED display driver IC enhances image quality for QHD flexible displays, which are increasingly used in high-end 5G smartphones.

How does the global 5G smartphone market affect Magnachip's business?

The global 5G smartphone market is projected to grow significantly, expected to reach 1,150 million units by 2023, providing substantial opportunities for Magnachip's OLED display driver ICs.

What technology does Magnachip use for its OLED display driver IC?

Magnachip's OLED display driver IC is developed using advanced 28nm process technology, which contributes to its performance and efficiency.

When did Magnachip announce the start of mass production for its OLED display driver IC?

Magnachip announced the commencement of full-scale mass production of its OLED display driver IC on February 18, 2021.

Magnachip Semiconductor Corp.

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