FineTec announced on the 3rd that it has signed a supply contract worth 13.8 billion KRW for organic light-emitting diode (OLED) manufacturing equipment with Samsung Display Vietnam (SAMSUNG DISPLAY VIETNAM).
This order represents a large-scale supply contract equivalent to 31% of last year's sales (44.7 billion KRW). As of June, the cumulative order amount for this year is approximately 33.4 billion KRW, reaching 75% of last year's sales. FineTec, which has secured large OLED manufacturing equipment orders since the second half of last year, plans to continue its winning streak.
Recently, OLED has expanded its industrial scope beyond smartphones to tablets, PCs, laptops, and monitors. Apple and Samsung Electronics are aggressively increasing their OLED-equipped product lines. Apple is expected to equip OLED from the iPad to the MacBook Pro, while Samsung Electronics is expected to equip OLED in all product lines except ultra-low-cost phones, including mid- to low-end smartphones. As major display manufacturers continue new investments, FineTec is expected to benefit.
A company representative explained, "Despite the deteriorated business environment last year, continuous investment in new technologies and successful development were recognized by our clients. Based on this world-class bonding equipment technology, we expect not only this large-scale order but also continuous orders following the expansion of the OLED market."
They added, "With the existing order backlog and the newly secured orders, a green light has been turned on for performance improvement. This year, sales are expected to increase by more than 60%, and operating profit is expected to turn positive."
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