Top 10 Hottest Events in the LED Industry in 2024

2024 is coming to an end.
What were some of the most talked-about events in the LED industry this year?
What potential impacts will this have on the future development of LEDs?
Next, we will list them one by one.

Meta and Google release Micro LED AR glasses prototype

In September and December 2024, Meta and Google successively released AR glasses prototypes, both equipped with full-color Micro LED display technology.

AR glasses are among the most advanced technology products currently utilizing Micro LED near-eye display technology. Micro LED boasts advantages such as higher brightness, faster response time, smaller size, and longer lifespan, perfectly meeting the high display requirements of AR glasses. Consequently, the number of AR glasses employing Micro LED technology has been increasing year by year.

With the support of two major tech giants, the popularity of Micro LED near-eye display technology has further increased. In the future, with the promotion of brand manufacturers and the rapid follow-up of technology development, the commercialization of Micro LED near-eye display technology is expected to accelerate again, becoming the next big trend in Micro LED applications.

BOE, HC SemiTek, Leyard, and Chenxian Optoelectronics' Micro LED projects have commenced production.

In 2024, on the supply side, Micro LED production lines gradually began to bear fruit. BOE and HC SemiTek's 6-inch mass production line in Zhuhai, Sitan Technology's Micro LED production line project in Xiamen, Leyard's first-phase fully self-developed next-generation high-end MIP production line in Wuxi, and Chenxian Optoelectronics' TFT-based Micro LED mass production line in Chengdu all went into production in 2024. In addition, Tianma's Micro LED production line also successfully completed its full-process operation on December 30th. These projects involve Micro LED chips, packaging, and LED display modules.

As Micro LED production capacity gradually becomes ready, Micro LED technology will mature and improve rapidly. In 2025 and the near future, Micro LED technology will be applied to more displays, AR/VR head-mounted displays, wearable devices, automotive displays, and other fields.

National policies drive a surge in the application of LED cinema screens.

On May 24, six departments, including the National Development and Reform Commission, issued the "Implementation Plan for Promoting Equipment Upgrading in the Cultural and Tourism Sector," which mentioned the promotion of new-generation cinema equipment systems, the large-scale implementation of cinema LED screen projection system upgrade plans, the strengthening of independent intellectual property rights cinema equipment brands, and the reshaping of the film projection business model.

Driven by policy, LED cinema screens became one of the hottest new applications in the industry in 2024. The domestic LED cinema screen market experienced rapid growth in 2024. According to incomplete statistics, as of December 30, 2024, a record 42 new LED cinemas were built in China, further expanding the application of LED displays. While the domestic LED cinema screen market developed, companies also began to focus on bringing LED cinema screens to the larger global market.

The huge success of games like "Black Myth: Wukong" and "Blossoms" has made LED technology a driving force behind the gaming and film industries.

In 2024, the domestic game and film industries flourished, with games and films like "Black Myth: Wukong" and "Blossoms" becoming hot topics of discussion. Driven by "Black Myth: Wukong," the game industry experienced a surge in popularity, while the rapid development of Mini LED backlit displays, LED displays, and LED+AI technologies continued to penetrate game production and application, contributing to the development of the entire game industry chain.

Behind the success of "Blossoms Shanghai" lies the support of the popular LED virtual shooting technology, which has shortened the production cycle, enhanced the immersive shooting effect, and saved post-production costs. Currently, the domestic LED virtual shooting industry is booming; according to incomplete statistics, more than 40 LED virtual shooting studios have been established in China.

Industry giants make changes: Lumileds, ams OSRAM, and Samsung's LED businesses undergo transformations.

In 2024, several well-known companies announced changes to their LED businesses. Lumileds announced the sale of its traditional automotive lighting and accessories business for $238 million to enhance its competitiveness; ams OSRAM cancelled its Micro LED watch business cooperation with Apple, however, ams OSRAM is still actively developing Micro LED in the augmented reality and automotive display markets; Samsung LED plans to exit the lighting LED business from the second half of 2025 and move towards more profitable products.

The business changes of LED industry giants will have a significant impact on the development of emerging LED technologies and the overall industry landscape. The future of the LED industry may bring more new risks and opportunities, awaiting exploration by more players.

Guoxing Optoelectronics and Leyard's large-scale LED base plans to sign agreements and start production.

In 2024, Guoxing Optoelectronics' Geely Industrial Park, with a total investment of 2 billion yuan, went into operation. The project focuses on producing RGB small-pitch LED, Mini/Micro LED, TOP/CHIP LED and other products, which are mainly used in ultra-high-definition and new smart displays, smart car lights, smart homes, ultraviolet sterilization and other fields.

In March, Leyard signed an agreement in Changsha to establish its Central China headquarters and R&D and production base. This plan represents a total investment of 1 billion yuan, focusing on applications in smart displays, urban lighting environments, new cultural tourism formats, and virtual reality technology.

LED companies continue to expand their production capacity to prepare for the trend of diversified applications in LED displays and lighting in 2025 and beyond.

Zhaochi, Lehman, and Aoto have established overseas companies, and domestic enterprises are accelerating their expansion into Southeast Asia and the Middle East.
In 2024, overseas demand for LED displays continued to grow, with the Asia-Pacific region (especially Southeast Asia and the Middle East) performing particularly well. LED companies accelerated their overseas expansion to seize growth opportunities in emerging markets.

In June, Shenzhen MTC announced an investment to establish a production base in Vietnam, and in December, it announced plans to establish a subsidiary in Singapore; Lehman Optoelectronics established a subsidiary in Dubai in May; and Aoto Electronics announced in September an investment to establish a subsidiary in Thailand...

Businesses remain optimistic about the development potential of overseas markets in Asia, Africa, and Latin America over the next two to three years. It is anticipated that more domestic companies will follow this industry trend and venture into Southeast Asia and other overseas markets to seek more business opportunities.

Crystal Optoelectronics achieves several latest Micro LED research results through silicon substrate epitaxial growth assistance.

In 2024, Micro LED technology continued to achieve breakthroughs. Among them, with the help of silicon substrate epitaxial materials from Crystal Energy Optoelectronics, universities such as Hunan University and Fudan University successively achieved the latest technological achievements, including a 0.39-inch Micro LED full-color microdisplay chip with an ultra-high brightness of 400,000 nits and an ultra-high resolution of 3,300 PPI; a 10 million nit ultra-high brightness green Micro LED microdisplay module; and a high-performance silicon-based InGaN red Micro LED.

Large-size silicon-based GaN-based Micro LED epitaxy technology boasts superior characteristics such as high substrate removal yield, high CMOS bonding yield, large size, low cost, and low warpage. In the future, silicon-based epitaxy technology will become one of the key drivers for the industrialization of Micro LED displays.

Unilumin Technology, Powerful Giant Color, Hongli Smart Technology, and Lehman Optoelectronics celebrate their 20th anniversaries, witnessing the growth of the LED industry.
2024 was a special year for many LED companies. Companies like Unilumin Technology, Qiangli Jucai, Hongli Zhihui, and Lehman Optoelectronics all celebrated their 20th anniversaries in 2024. These companies are key components of China's LED industry. Focusing on LED technology, they have developed their own technological advantages and industry positions over a long period of development. They also serve as a microcosm of the rapid development of China's LED industry from scratch, witnessing its rise and the entire process of surpassing others.

The IPOs of Nova Nebula and Jinko Electronics have elicited a strong response from the capital market.

In 2024, Nova Nebula and Jinko Electronics were officially listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, respectively, to enthusiastic market response. Nova Nebula's stock price surged by as much as 230% on its first day of trading; Jinko Electronics broke the record for oversubscription of a technology IPO on the Hong Kong Stock Exchange, with a 45.43% increase on its first day of trading.

This, to some extent, indicates that the capital market holds an optimistic view of the LED industry's prospects. In the future, this may drive more LED companies to accelerate their listing processes, leveraging the capital market to promote LED technology innovation, market expansion, and the improvement of the industrial chain, thereby comprehensively enhancing the competitiveness of China's LED industry. (Text: Irving)

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