Universal Display Corporation (OLED):  Continued Penetration in the Smartphone Market, Growth Opportunities In Aviation

Universal Display Corporation reported strong results for its first quarter of 2024. The company’s revenue was $165 million, its operating profit was $63 million, and its net income was $57 million or $1.19 per diluted share. Its strong start to the year and continuing OLED momentum have led them to raise the lower end of their annual guidance range to now believe that their 2024 revenues will be in the range of $635 million to $675 million. OLEDs continue to play a more significant role in shaping the future of displays. Their penetration in the smartphone market is fuelled by many benefits and innovative designs, coupled with the versatility and convenience of foldable smartphones and tablets. There is also increasing interest in conformable, foldable and rollable OLEDs from OEMs, panel makers and consumers.