PlayNitride, a leading Micro LED manufacturer, recently announced that it is set to achieve profitability in 2024, benefiting from the shipment of COC (Chip On Carrier) technology and mass transfer equipment.
Revenue and Profit Growth
In November, PlayNitride achieved a record revenue of NT$ 322 million (approximately USD 10.1 million), a 37.7% increase from the previous month and a 283.1% year-over-year growth. This marks the company’s fourth consecutive month of annual and monthly growth. In the third quarter, the company successfully turned profitable, reporting a net income of NT$ 59 million (approximately USD 1.9 million) for the quarter, resulting in 0.55 NT$ earnings per share. As a result, the company’s year-to-date loss per share narrowed to NT$ 0.54.

Fourth Quarter and 2025 Outlook
According to PlayNitride’s CEO Ming-Chang Chen, the company will begin recognizing revenue from equipment sales in the fourth quarter of this year, with a gross margin expected to range from 40-60%. Equipment sales are projected to account for 10-20% of the company’s total revenue for 2024. Looking ahead to 2025, PlayNitride expects to continue its trend of quarter-over-quarter growth, with a 50% year-over-year increase in Micro LED production capacity.
Production Capacity Expansion
In terms of production capacity, the company plans to increase its COC production capacity from 2,000-2,500 wafers per month to 3,000-4,000 wafers per month in 2025, with any excess capacity being outsourced to other manufacturers. PlayNitride currently holds a 90% market share in the COC market, with major customers including Taiwanese and Korean panel manufacturers.
Fundraising for Growth
To support its expansion, PlayNitride’s board has approved a fundraising plan, which includes the issuance of NT$ 800 million (approximately USD 26 million) in convertible bonds and 12,000 shares of new stock, with a total expected raise of over NT$ 2 billion (approximately USD 64 million). The funds will be used for equipment upgrades at the Zhunan facility, investments in new production processes, and the purchase of the Epistar-leased facility.
Market Applications and Future Outlook
Looking at market applications, PlayNitride’s US-based customers will launch wearable display devices and AR glasses in the first quarter of 2025. The company expects Micro LED TV applications to gradually become widespread by 2026, with the automotive market expected to see commercial adoption between 2027 and 2030. PlayNitride is currently negotiating orders with European automotive manufacturers.

Disclaimer: The views and opinions expressed in this article are those of the original authors and do not necessarily reflect the official policy or position of MiniMicroLED Insights . While we strive to ensure the accuracy and reliability of the information provided, the content on this website may include translations, re-edited versions of second-hand information, or information derived from unverifiable sources. MiniMicroLED Insights makes no representations or warranties, express or implied, regarding the completeness, accuracy, or timeliness of such content. The information in this article is for informational purposes only and should not be construed as professional advice. Any reliance you place on such information is strictly at your own risk. To the fullest extent permitted by law, MiniMicroLED Insights disclaims all liability for any direct, indirect, incidental, consequential, or punitive damages arising out of your use of, or reliance on, the information contained in this article.
Copyright Notice: This article may include translated and re-edited content derived from various online sources, including websites and social media platforms. While we strive to credit the original authors and sources to the best of our ability, we may not always be able to verify the original source of the content. All rights to the original content remain with the original author or source publication. Where applicable, this content is reproduced for educational and informational purposes under the fair use doctrine. If you believe any content on this site infringes upon your intellectual property rights, or if you are the copyright owner and believe we have not credited you correctly, please contact us at minimicroled.business@gmail.com. We will investigate and take corrective action, including removing or properly crediting the content if necessary.
Content sourced and adapted by MiniMicroLED Insights (Doris).