SEOUL, South Korea and CUPERTINO, Calif., March 5, 2015 /PRNewswire/ -- MagnaChip Semiconductor Corporation ("MagnaChip") (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that the company is now supplying a major Japanese liquid crystal module (LCM) maker with display panel driver ICs for use in Automotive applications.

MagnaChip continuously develops optimized display panel driver ICs in an effort to stay ahead of the ever advancing automotive display technologies for Center Spec Display (CSD) and Center Information Display (CID) as used in automotive dash consoles. As a result of its technology leadership and product competitiveness, MagnaChip was chosen by a leading Japanese LCM maker to supply its newly developed display panel driver ICs for CID & Instrument cluster applications.

Display driver ICs with MagnaChip's leading-edge device technology for use in automotive applications are key components behind the high-definition image quality that is sought after by automotive component manufacturers.

MagnaChip's newly released display driver IC chip for automotive use is optimized for multi resolution solutions such as HVGA and Full HD (FHD) which are found in high-definition automotive display panels. MagnaChip's new display panel drive IC solution not only enhances picture quality but also contributes to enhanced display panel reliability.

Market research firm DisplaySearch* projects that Automotive WVGA~FHD shipments will grow globally from 53.23 million units in 2015 to 74.52 million units by 2018, a 40% increase in the automotive WVGA~FHD display market size.

YJ Kim, interim CEO and General Manager of MagnaChip's Display Solutions Division, said, "As the market demand for automotive displays steadily increases, MagnaChip will continue to be well-positioned to expand with this growth by continuing to deliver new FHD display panel IC products based on its robust and advanced device technology."

Automotive WVGA~FHD Shipments Forecast (Million Units) 

* Source: IHS DisplaySearch Quarterly Automotive Monitor Shipment and Forecast Q4'14 Report

About MagnaChip Semiconductor 

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise.

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SOURCE MagnaChip Semiconductor Corporation