Universal Display (OLED) 37th Annual ROTH Conference summary

2025 guidance and market outlook

• Revenue guidance for 2025 is $640M–$700M, with a midpoint of $670M, reflecting 3.5% growth amid macro uncertainty.

• Industry growth is estimated at 5–6%, with company growth slightly below that.

• Guidance accounts for a range of macroeconomic scenarios and end-market variability.

End-market drivers and capacity investments

• Smartphone OLED penetration surpassed 50%, with continued growth expected, especially in mid- and low-tier segments.

• IT segment (tablets, laptops, monitors) is at 3–4% OLED penetration, projected to reach 20% by 2030.

• Major OEMs (Samsung, BOE, Visionox) are investing $20B in new Gen 8.6 IT-focused capacity, coming online 2025–2026.

• TV market growth is slower than expected, but OLED TVs are more price-competitive and offer premium quality.

Technology and R&D updates

• OVJP (Organic Vapor Jet Printing) R&D shifted from California to Singapore, broadening focus to non-display uses.

• Sufficient TV manufacturing capacity exists for 10–12M units annually, with current sales at 7M units.

• OVJP seen as a long-term cost-effective platform for TVs, but not required for near-term growth.