Visionox, a Shenzhen-listed company that supplies AMOLED screens to major cell phone makers, has received an order to supply AMOLED screens for 5 million cell phones for Huawei, the Time Weekly reported, citing people close to Huawei's supply chain.
The company will also provide Honor with nearly 10 million AMOLED display panels, according to the source.
Since entering Huawei's supply chain in 2020, Visionox has supplied the Honor 30 series, Huawei nova 7, and nova 8 series with flexible AMOLED products.
Visionox participated in supplying the Honor V40 series with flexible AMOLED screens, Honor's first cell phone product after separated from Huawei.
Folding screen cell phones are also bringing more opportunities for AMOLED display panels, and more phone manufacturers are expected to launch folding products in 2021.
Compared to the global market demand of 600 million AMOLED pieces in 2020, the market demand will exceed 1 billion pieces by 2027, according to the forecast by market research firm Omdia.
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The overall penetration of flexible and rigid screens will increase to 40% in 2021, according to the consulting firm Sigmaintell.
Visionox currently has 3 production lines, production lines in Kunshan and Gu'an are already in mass production, and the production line in Hefei officially ran on December 7, 2020. As Visionox's production capacity gradually increases, its market share is expected to further increase.
Last year, Visionox's capacity utilization was not full due to the epidemic. But with large orders in hand this year, Visionox's production lines in Gu'an and Kunshan will be close to full capacity, said an industry analyst at a brokerage firm in Shanghai.
On the evening of January 28, Visionox disclosed its 2020 earnings forecast, and its operating income and net profit both achieved significant growth.
In terms of net profit attributable to the mother company, it is expected to achieve RMB 141 million - RMB 210 million, an increase of 120.21% - 227.97. In terms of operating revenue, compared to RMB 2.69 billion in 2019, it is expected to achieve revenue of RMB 3.2 billion - 3.5 billion in 2020.
For the growth of the performance, Visionox said in the announcement that in the fiscal year 2020, in terms of product delivery, the first mass-production application-level under-screen camera solution was launched and was exclusively supplied to the first commercial under-screen camera phone ZTE Axon 20.
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