SEOUL, South Korea and SAN JOSE, Calif. -- MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE: MX), a designer and manufacturer of analog and mixed-signal semiconductor products, and Melfas Inc., a leading provider of proven touch controller ICs and touch screen / touch key modules based on capacitive touch sensing technologies, announced a partnership to develop advanced OLED display capabilities for the automotive and consumer electronics sectors.
Currently, OLED technology is deployed primarily in televisions and mobile products such as smartphones and smartwatches, but OLED displays represent an attractive growth opportunity. Industry forecasters expect the segment to show compounded annual growth rate (CAGR) of 187% between 2018 and 2022. Accordingly, MagnaChip and Melfas are working towards developing automotive display-related solutions in an effort to respond to this fast-growing market. With their current solutions, the two companies will initially address opportunities in consumer electronics and, going forward, will work closely together to develop solutions for OLED displays in automotive.
MagnaChip is the leading independent provider of OLED DDICs, and benefits from long relationships with the top two OLED display panel makers in the world. Further, more than a dozen smartphone OEMs currently use MagnaChip’s OLED DDICs in their smartphone lineups. Over the past 10 years, MagnaChip has shipped more than 400 million OLED DDICs, and developed a broad portfolio of patents related to the design and manufacturing of OLED display drivers.
Melfas has many years of technical experience and expertise in touch controller IC. Backed by its strong expertise in the field, Melfas has been constantly offering precise, responsive, and reliable touch solutions for highly innovative and dynamic smartphones and other mobile devices. It has shipped over 1 billion controller ICs since 2005. Further, Melfas recently launched a new OLED touch controller IC and has since supplied the same in large quantities to major handset manufacturers.
“Automotive display is an attractive market segment, and this partnership with Melfas will provide opportunities to develop feature-rich and cost-effective products,” said YJ Kim, Chief Executive Officer of MagnaChip.