MagnaChip Semiconductor Corporation (NYSE:MX) powered higher on Tuesday after the South Korean chipmaker launched a new piece of kit which it hopes will attract the attention of the smartphone giants like Apple Inc (NASDAQ:AAPL) and Samsung.
The sub-US$500mln company has unveiled a new third-generation 40-nanometer (nm) OLED display driver – a key piece of software that helps to boost resolution.
MagnaChip said the new driver has been developed for the next wave of OLED smartphone displays and it has already won its first design-in at a “leading smartphone player”.
OLED technology is widely-tipped to replace the LCD displays currently used in smartphones as it enables thinner and curved mobile displays which seems to be the direction designers are heading in.
“The launch of our third-generation 40nm mobile OLED DDIC will help usher in the next wave of OLED smartphones with superior screen features," said YJ Kim, Chief Executive of MagnaChip.
“The 40nm OLED DDIC we have introduced today is the latest mobile OLED DDIC in our current mobile OLED portfolio, and we already are far along in the development of a next-generation 28nm flexible OLED DDIC that we anticipate will be sampled by the end of 2018 or early 2019.
With the addition of the new 40nm display driver, MagnaChip now has six display drivers, including three 40nm rigid bezel-less drivers, two 55nm flexible bezel-less drivers, and one110nm rigid OLED driver.
MagnaChip shares were up15% to US$10.75 in early afternoon trading.