Sunic System is expecting to land more orders for its micro-OLED deposition equipment beginning this year, according to the company’s founder on Mar. 23.
Park Jae-gyu said at the company’s regular shareholders’ meeting at Gyeonggi Province that based on the firm’s market leadership, he believes this year would be better than 2019 when Sunic failed to land mass production orders from China’s Visionox – the order went to Japan’s Canon Tokki.
Despite the disruption, the company managed to spike its operating profit by 34.6% on-year based on growth in the small-sized deposition equipment market. Sunic is seen to hold up to a 90% share in the global markets.
Micro-OLED is cited as next-generation display technology that is widely expected to be applied to virtual and augmented reality panels.
"There has been forecasts that the OLED market will grow on the launch of foldable smartphones, and we plan to grab this opportunity to further expand our market this year and in 2021,” said Park.
Sunic System posted sales of KRW 87.6 billion in 2019, down 25.7% on-year, but its operating profit jumped 34.6% to KRW 11.4 billion. "Sales suffered a bit, but we managed to post a bigger profit based on stable supplies and cost-cutting efforts.”
About 95% of Sunic System’s revenues are derived from OLED deposition equipment. The company expects its sales for this year to be similar to that of 2019.
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