LIS Signs 13.9 Billion KRW OLED Manufacturing Equipment Supply Contract

[Asia Economy Reporter Hyungsoo Park] LIS has secured orders for organic light-emitting diode (OLED) manufacturing equipment, supported by the recovery of the Chinese display market.

On the 9th, LIS announced that it received an order for OLED manufacturing equipment from the Chinese display company Tianma (Wuhan Tianma Microelectronics Co. Ltd).

The contract amount is approximately 13.9 billion KRW, accounting for 9.55% of last year's sales. The contract period is until July 2.

Related industries expect that display investments, which had been paused for more than two months due to the impact of the novel coronavirus disease (COVID-19) in China, have resumed.

A company official said, "The Chinese display market had been sluggish recently due to the COVID-19 situation, but as the situation calms down, the atmosphere is returning to placing equipment orders," adding, "On China Bidding as well, BOE and Tianma have recently resumed equipment bidding."

The National Bureau of Statistics of China announced that the manufacturing Purchasing Managers' Index (PMI) was 52.0 in March. China's manufacturing is recovering rapidly.