Taiwan-based MicroLED developer PlayNitride announced that its financial results for 2024. The company's sales were 1.76 billion NTD ($53 million USD), up 86% from 2023 (943 million NTD, or $28.6 million USD). It's net income in 2024 was 60.1 million NTD ($1.8 milion USD), up from a loss of 512.8 million NTD in 2023.
PlayNitride also announced that it has secured 800 million NTD ($24.3 million USD) in a new secured convertible bond private placement. This follows a similar 800 million NTD bond issue it has announced 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.
