LCD driver IC supplier Novatek Microelectronics has entered LG Electronics' flexible OLED panel supply chain for Apple's next generation iPhone devices and will see shipments of its small- to medium-size LCD driver ICs increase significantly in 2018, according a Chinese-language Economic Daily News (EDN) report.

While Samsung Electronics will serve as the sole OLED panel supplier for Apple in 2017, LG will begin to share Apple's OLED panel orders with Samsung in the coming year, with needed LCD driver ICs coming from Novatek, said the report, citing Novatek president James Wang.

Novatek has reported that its consolidated revenues increased 2.7% on month and 3.7% on year to an 8-month high of NT$4.015 billion (US$133.42 million) in May. Increased shipments of SoC solutions and large-size LCD driver ICs contributed to revenue growth in May.

Combined revenues for the April-May period totaled NT$7.925 billion, accounting for nearly 70% of the company's guidance of NT$11.5-11.9 billion set for the second quarter.

For the first five months of 2017, revenues amounted to NT$18.84 billion, edging up 0.92% from a year earlier.

The company's stock price rose NT$1 to finish at NT$123 on the Taiwan Stock Exchange (TSE) during the June 7 session.

By: DocMemory
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