SEOUL, South Korea and SAN JOSE, Calif., April 11, 2019 /PRNewswire/ -- 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, today 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.
About Melfas Inc.
MELFAS Inc. is a company that has built expertise in touch solutions. Melfas develops and supplies the world best touch controller ICs and touchscreen / touch key modules based on the capacitive touch sensing technologies Melfas has acquired for more than a decade. Capacitive touch sensing technology recognizes input location and movement by sensing capacitance variation generated in touchscreen module by a fingertip or stylus. When this technology is applied to touchscreen display, it produces excellent results such as multi-touch recognition, soft gesture recognition, outstanding durability and high light transmissivity; all these strengths are widely acknowledged. Capacitive touch solutions provided by MELFAS are materialized in the form of touchscreen or touch key for various products, including smartphone, feature phone, tablet PC, monitor, digital camera, MP3 player, and PMP. The areas of application are rapidly expanding.
About MagnaChip Semiconductor
MagnaChip is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, IoT, consumer, industrial and automotive applications. The company's Standard Products Group and Foundry Services Group provide a broad range of standard products and manufacturing services to customers worldwide. MagnaChip, with about 40 years of operating history, owns a portfolio of approximately 3,000 registered patents and pending applications, and has extensive engineering, design and manufacturing process expertise. For more information, please visithttp://www.magnachip.com/ www.magnachip.com.
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