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Duksan Neolux Hits Record High Revenues
July 05, 2020
 
Duksan Neolux (DS) expects 2020 revenue and operating income to trend up Y/Y despite effect of Covid-19. Kiwoom Securities and Meritz Securities projected DS’ revenues will range between $216M-$220M as operating income ranges from $50M-$52M in Q2’20. The reports expects China smartphone OLED panel makers to increase production servicing Huawei, Xiaomi, OPPO and vivo, Q1’2020 smartphone shipment dropped 7% Y/Y; while OLED smartphone shipment rate grew 17%. 
 
Table 1:  Duksan Neolux Revenue Trends and Forecast

Duksan’s Q3’20 projected revenues and operating incomes are $283M and $78M, respectively. While DS’ major customer is SDC, Meritz Securities forecasted that Chinese OLED producers will take ~20% DS’ revenues in 2020. DS started to supply HTL to SDC in 2017 now, the company is a supplier for Red/Green Prime and HTL OLED materials to SDC.  
 
Table 2: Duksan Neolux OLED Material Status in SDC