Last month we reported that Taiwan-based microLED developer PlayNitride is planning to raise $50 million to establish its second microLED production line. According to Digitimes, the company secured the first part of the $50 million financing round, and is starting to construct the second production line.
PlayNitride hopes to start volume production in the new line by Q2 or Q3 2021. This new line will expand the company's microLED production capacity by 2 to 3 fold. Digitimes also updates that by the end of 2021, the company plans for an IPO at the Taiwan Stock Exchange.
PlayNitride started volume production at its first production line in 2019, for small wearable displays, and the first displays are now being "validated" by customers. Shipments are likely to begin next year. PlayNitride is targeting the wearables, automotive and large-size TV markets, and is working with more than 10 potential customers. For the wearables market, the company has a strategic partnership with RiTDisplay and according to reports the two companies are in talks with Apple to supply future wearable displays.
Last month PlayNitride also introduced its latest display technology branded as PixeLED Matrix, which is a tiled microLED display module based display, each produced on its own PCB. PixeLED displays can be used for TV displays, for commercial signage displays and also for automotive lighting.
In the large-size TV market, PlayNitride is reportedly supplying Samsung with the micro-LED chips and technologies used in Samsung's "consumer-level" micro-LED TVs.