Seoul Semiconductor Co., Ltd. (KOSDAQ: 046890), a leading global innovator of LED products and technology, announced that it has achieved a remarkable milestone by maintaining stable growth despite a downturn in the LED industry, narrowing the market share gap with global No.2 player ams OSRAM to just 1 percentage point.
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"2024 Global LED Market Share Rankings" (Source: Omdia) (Image: Seoul Semiconductor)
According to the recently published "2024 Global LED Market Share Rankings" by market research firm Omdia, Seoul Semiconductor was the only company among the global top three to sustain both revenue and market share, while industry leaders Nichia and ams OSRAM experienced significant revenue declines amid the market slowdown.
This achievement is underpinned by Seoul Semiconductor's robust technological competitiveness, driven by its commitment to innovation even amidst global economic uncertainty. The company has consistently invested over 10% of its annual revenue in R&D, resulting in a portfolio of more than 18,000 patents worldwide.
In particular, Seoul Semiconductor has secured a differentiated edge with its proprietary "No-wire" technology, a core component of Micro LED displays. The company further solidified its leadership in this area by winning a patent litigation at the Unified Patent Court (UPC) in Europe, reinforcing the strength and exclusivity of its No-wire technology in the next-generation display market.
According to Omdia, the Micro LED segment is emerging as a key frontier in next-generation display technology and is expected to grow into a market worth approximately USD 80 billion by 2040.
About Seoul Semiconductor
Seoul Semiconductor is the world's third-largest global optoelectronics (LED) company, specializing in LED technology for over 30 years. With the vision of "Making the world clean, healthy, and beautiful through light," Seoul Semiconductor leads a new paradigm of light across various industries, including lighting, automotive, IT (such as backlighting), and its subsidiary, Seoul Viosys, which specializes in MicroLED, UV, Sensors, and Datacomm(SD).
Some of the groundbreaking technologies developed by Seoul Semiconductor include the world's first innovative no-wire LED technology WICOP, the SunLike LED which replicates natural sunlight spectrum, the high-voltage LED Acrich, the ultra-bright nPola LED (10 times brighter than conventional LEDs), the RGB one-chip MicroLED WICOP Pixel, and UV sterilization technology Violeds
Seoul Semiconductor holds an impressive portfolio of over 18,000 patents, and in the last 20 years, the company has won over 100 cases in patent litigation across 8 countries. Believing that the patent system provides hope for young people and serves as a foundation for building a better world, the company is actively engaged in intellectual property protection. For more details, visit our official website (www.seoulsemicon.com or www.seoulviosys.com) and our social media channels (LinkedIn).
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Contacts:
Seoul Semiconductor Co., Ltd.
Jinseop Jung
jjs8732@seoulsemicon.com
