SEOUL, South Korea and SAN JOSE, Calif., July 31, 2019 /PRNewswire/ -- MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE: MX), a designer and manufacturer of analog and mixed-signal semiconductor products and a leader in OLED display, announced today the Company has surpassed the 500 million milestone in cumulative shipments of OLED DDICs (Display Driver ICs). OLED display drivers are low-power devices that offer excellent screen resolution with deep and bright colors that do not require a backlight and enable full-screen and thinner smartphones.

MagnaChip first introduced the OLED DDIC in 2003 and began mass production, using the 150- nanometer (nm) process, in 2007.  The Company subsequently introduced a 110-nm driver in 2011, 55-nm in 2014, 40-nm in 2017 and a 28-nm in 2019.  The Company recently taped out a third 28-nm OLED driver and seventh 40-nm OLED driver.  MagnaChip intends to continue to expand the OLED display product line for smartphones and for multiple applications in the consumer, automotive, and industrial sectors.  As compared to the 40-nm platform, the 28-nm product line features a reduction in footprint and a reduction in power consumption of more than 20 percent.

"MagnaChip was first to market with an OLED DDIC and we have truly helped fuel the growing adoption of OLED displays," said YJ Kim, CEO of MagnaChip.  "We now have more than 15 years of development and production experience with OLED DDICs and are committed to help meet the expected increased adoption of OLED display drivers for multiple applications across different end markets."

MagnaChip announced an OLED Ecosystem Initiative earlier this year, and announced partnerships with three industry leaders:  ELAN Microelectronics Corp., a leading provider of capacitive touch controller ICs and Melfas Inc. and HiDeep Inc., two world leaders in providing one stop Human Machine Interface (HMI) solutions.  Each of these companies will collaborate with MagnaChip to develop and standardize innovative human-interface solutions based upon smart touch, stylus and fingerprint technologies that are suitable for MagnaChip's industry leading OLED DDIC.

About MagnaChip Semiconductor

MagnaChip is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, IoT, consumer, industrial and automotive applications.  The company's Standard Products Group and Foundry Services Group provide a broad range of standard products and manufacturing services to customers worldwide.  MagnaChip, with about 40 years of operating history, owns a portfolio of approximately 3,000 registered patents and pending applications, and has extensive engineering, design and manufacturing process expertise. For more information, please visit www.magnachip.com.

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SOURCE MagnaChip Semiconductor Corporation