SEOUL, South Korea and SAN JOSE, Calif., Jan. 25, 2016 /PRNewswire/ -- MagnaChip Semiconductor Corporation ("MagnaChip") (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that its cumulative shipment of AMOLED display driver ICs has surpassed 160 million units since initial shipments began in 2007.

MagnaChip is supplying AMOLED display driver ICs to global smartphone, tablet PC and digital still camera manufacturers through direct and indirect channels and is now targeting the head-mounted display application for the Virtual Reality (VR) market. MagnaChip is also targeting applications in automotive displays and infotainment.  All these market segments are expected to grow significantly over the next several years, according to market forecasts.

Market research firm IHS Inc. has projected that AMOLED smartphone display shipments will increase globally from 264 million units in 2015 to 510 million units by 2018, representing a compounded annual growth rate of almost 25% per year.

MagnaChip designs and manufactures a variety of AMOLED display driver ICs using a unique proprietary foundry model.  This model allows MagnaChip to apply its own unique AMOLED process patents as well as other intellectual property, proprietary process design kits and custom design-flow methodologies using internal and external foundries.

MagnaChip has been in active production with AMOLED display driver IC solutions since 2007 and over time has shrunk the technology to a specialized 55-nanometer AMOLED process node.  MagnaChip is also involved in process development that will migrate the technology to sub-55-nanometer processes, which will allow MagnaChip and its customers to continue to maintain leading-edge competitiveness.  As part of this process, MagnaChip will continue to expand its manufacturing capabilities through cooperative relationships with external foundries in addition to utilizing the Company's dedicated internal manufacturing capacity.

"We are well-positioned as a global leader in the design and supply of AMOLED display driver ICs," said YJ Kim, CEO of MagnaChip Semiconductor. "In this fast-growing market, we will fully leverage our design capability, specialized manufacturing processes and scalable foundry partnerships to develop new applications that capture the expanding display driver IC market opportunities."

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