Taiwan-based MicroLED developer PlayNitride announced disappointing financial results for Q2 2025, with revenues of 204.56 million TWD ($6.8 million USD), down around 37% from $323.12 TWD a year ago.
PlayNitride's net loss was 370.16 million TWD ($12.3 million USD), up over 1100% from a loss of 30.95 million TWD a year ago.
A few months ago PlayNitride secured 800 million NTD ($24.3 million USD) in a convertible bond private placement (the company also raised 800 million NTD in a bonds issue towards the end of 2024).
PlayNitride is building a complete supply chain for microLED production, from epiwafer production through chip processing, transfer process and more. In 2023 AUO announced a $21.5 million agreement with PlayNitride to build a 6-inch microLED production line at AUO's Longtan factory. Earlier in 2023, PlayNitride said that it is increasing its production volume to 10,000 6" wafers per month.
PlayNitride is developing a wide range of displays: tiled large-area displays (PixeLED Matrix), wearable panels, microdisplays, transparent displays, and more. In 2022, PlayNitride started to sample microLED panels for over 5 potential automotive customers.
