Samsung Display to Supply OLED Panels for Qualcomm Snapdragon Cockpit Platform?

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Samsung Display to Supply OLED Panels for Qualcomm's Automotive Platform

Samsung Display announced on Tuesday, February 4th, that it may provide OLED panels for Qualcomm's Snapdragon Cockpit Experience Development Platform (CEDP). This move signifies Samsung Display's further expansion into the automotive display technology sector.

The Snapdragon Cockpit platform, launched by U.S. chip giant Qualcomm in 2021, aims to deliver a next-generation in-car experience for drivers. Earlier this year at CES, Samsung Display showcased its advanced display capabilities by providing a 34-inch 6K ultra-wide OLED panel for Qualcomm's CEDP demo kit, highlighting the potential of their collaboration.
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As a leading display panel manufacturer in South Korea, Samsung Display plans to promote its OLED technology not only to Qualcomm but also to other automotive brands. This strategy is expected to strengthen Samsung Display's position and influence in the automotive display market.

However, the company remains cautious about its profit outlook. On January 31st, a Samsung Display executive stated that demand for smartphones and IT devices is likely to remain weak in the first quarter of this year, similar to the trend seen in the fourth quarter of last year. Executive Vice President Cheol Hur also expressed concerns, noting that the sluggish demand may persist throughout the quarter.

In 2023, Samsung Display reported revenues of 29.2 trillion KRW (approximately $22 billion) and an operating profit of 3.7 trillion KRW ($2.8 billion). This marked the first time since 2016 that the company's annual revenue fell below 30 trillion KRW. While revenue in 2016 was 26.93 trillion KRW, it saw significant growth in subsequent years due to a surge in OLED sales. However, the 2024 operating profit is projected to drop by 33% compared to 2023.

Despite these challenges, South Korean analysts remain optimistic, forecasting Samsung Display's profits to reach around 3 trillion KRW ($2.3 billion) this year. This reflects confidence in the company's technological strength and future growth potential in the display sector.

In summary, Samsung Display is steadily expanding its presence in the OLED panel market, targeting both the automotive display sector and addressing challenges in the smartphone and IT device markets. With ongoing technological advancements and deeper market penetration, Samsung Display is poised to maintain its leadership in the global display technology industry.
 
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