Strong Orders in June
According to HCP Technology‘s official, in June, the P0.7 product achieved over 500 square meters in monthly orders. Currently, HCP’s manufacturing capacity has reached 8,000 m² per month.
Growth in Micro-Pitch LED Displays
HCP Technology stated that in recent years, as technology matures and large-scale applications take off, micro-pitch LED displays below P1.0 have been experiencing rapid growth. In 2023, the cost-effectiveness of small micro-pitch LED displays has significantly improved, and the gradual price decline has made this previously high-end display technology more accessible, with its market share in premium applications continuously rising.
Shift Towards Higher Precision
As a result, in 2024, the demand in the end market for high-end displays is gradually shifting from P0.9 to the more refined P0.7 pitch.
Manufacturing Capacity Plans
Currently, HCP’s manufacturing capacity has reached 8,000 m² per month, with plans to increase to 10,000 m² by year-end, to meet the large-scale demand for micro-pitch products.
Focus on COB and MIP Technologies
HCP Technology primarily promotes COB and MIP technologies, positioning itself as a specialized manufacturer of LED direct displays, focusing solely on manufacturing without brand involvement.
2023: The Year of COB
HCP believes that 2023 is the breakout year for COB, which is gradually replacing SMD technology. Currently, HCP’s COB technology is mainly used in indoor small-pitch and micro-pitch applications, as well as curved and custom-shaped LEDs, integrating virtual pixels for customized production. In the MIP segment, the focus is on P0.6 and below for quasi-Micro LED displays, DCI color gamut cinema screens, and XR virtual filming. The MIP0404 product has already been launched, and production of P0.6 and P0.9 products is currently underway.
Industry Trends
From an industry perspective, multiple LED display manufacturers are intensifying their market push for COB and MIP technologies and related products, accelerating their penetration rates.
Taking COB as an example, in the market below P1.0, COB has already started to gain traction, and since last year, its share in the P1.2 pitch market has begun to expand.
Growing Demand for COB Technology
Statistics show that the demand for COB technology in the LED display industry continues to grow, with significant shipment increases reported by various companies, who are also expanding their production capacity to meet market demands. By mid-July, COB production capacity (calculated as area based on P1.2) reached 36,000 m² per month. Some companies have indicated that they will continue to release production capacity based on market demand fluctuations.
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