Finetec Signs 19.5 Billion Won OLED Manufacturing Equipment Supply Deal

Finetec has signed a supply contract worth 19.5 billion won with Samsung Display Vietnam for OLED (organic light-emitting diode) manufacturing equipment.

According to Finetec on July 24, this deal marks the company’s largest-ever single order by value in the past decade, since 2017. Finetec expects a significant rebound in earnings once these large-scale orders are reflected in revenue beginning in the second half of the year.

Industry watchers analyze that Apple’s expansion of its OLED strategy is driving new orders for domestic display equipment manufacturers. After applying OLED to the iPhone, Apple is expanding its use of OLED to the iPad, MacBook, and even foldable devices. Samsung Display and LG Display are expected to exclusively supply all major OLED products launching in the second half of this year.

Finetec anticipates that order volumes will continue to grow in this favorable market environment. Having proven its competitiveness by supplying OLED equipment to Korea’s major display companies for 18 years, the company intends to further expand its orders moving forward and secure a stable growth foundation.

A Finetec representative stated, "This contract is the largest single deal in our history, and we expect the resulting improvement in performance to begin in earnest from the second half of the year. We will actively respond to the growth of the downstream industries as more products adopt OLED and pursue additional orders to maintain sustainable growth."

This content was produced with the assistance of AI translation services.