SEOUL, South Korea and SAN JOSE, Calif., April 9, 2019 /PRNewswire/ -- MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE:
MX), a designer and manufacturer of analog and mixed-signal semiconductor products, announced today a new initiative to partner
with companies in the development of next-generation display features of smartphones and other mobile or handheld consumer
electronics devices. MagnaChip intends to develop individual strategic partnerships with leading manufacturers of touch,
stylus, fingerprint technologies, and associated OLED display technologies.
Each of these companies will collaborate with MagnaChip to develop and standardize innovative human-interface solutions based
upon smart touch, stylus and fingerprint technologies that are suitable for MagnaChip's industry leading OLED display driver
integrated circuits (DDIC). The goal in each instance will be to improve the functionality of OLED displays on end user
devices. Further, there will be a specified collaboration in shared intellectual property that will extend into new
applications, for instance in the IoT and automotive sectors.
MagnaChip is the leading independent provider of OLED DDICs, and benefits from long relationships with the top two 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.
With various market forecasts predicting OLED smartphones to account for more than 50 percent of all smartphones by 2021, the
initiative has the potential to expand market-related business opportunities for each member, benefit consumers by offering
"best-of-class" display features, and to make OLED the display technology of choice for screens in a wide range of consumer
electronics products.
"The series of strategic ecosystem partnerships will create a new de facto OLED display ecosystem that can help us better
identify customer needs and develop best-in-class products," said YJ Kim, Chief Executive Officer of MagnaChip. "Further,
by working together, we can achieve innovative and high performance OLED platform solutions, shorten the OLED platform validation
cycle, hence reduce "design-in" costs for smartphone and other mobile solutions."
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 visit www.magnachip.com.
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SOURCE MagnaChip Semiconductor Corporation