TC TECH receives order valued at 660,000 USD from Chinese manufacturer of diffusers for mini-LED displays
TC TECH Sweden AB (publ) announces that the company has received an order covering equipment for the manufacturing of diffusers for mini-LED displays from one of the leading companies in China. The total order value for the system solution covered by the order is valued at 660,000 USD (approx. 5.6 MSEK). The company expects to deliver the order in the fourth quarter of 2021.
The customer is one of the larger Chinese companies within development and production of optical films, including diffusers for mini-LED displays. Their customers include several of the larger electronics manufacturers in China, such as BOE and AUO. This order shows that TC TECH’s technology is competitive in a segment that is expected to exhibit strong growth during the coming years as the manufacturing of LCD displays with mini-LED backlighting increases.
”This order is positive for TC TECH for a number of reasons. First and foremost, we are excited that our solution has been selected for the manufacturing of diffusers for mini-LED displays, as this is one of our prioritised focus areas where we see strong growth potential. Our assessment is that a significant part of the market for LCD displays to mobile phones and laptops will upgrade to mini-LED backlighting during the coming years, and we are working actively to be part of the discussions when the manufacturers of diffusers for these displays upgrade their equipment. This order also indicates that investments are beginning to increase again in the market segments where we are active after a period with low investment levels due to the Covid-19 pandemic,” says TC TECH’s CEO Alexander Luiga.
For further information, please contact:
Alexander Luiga, C.E.O., TC TECH Sweden AB (publ)
Tel: +46 (0)8-788 08 01
Email: alexander.luiga@tctech.se
www.tctech.se
This information was submitted for publication through the agency of the contact person set out above, at 09.20 C.E.T. on June 30th 2021.
About TC TECH
TC TECH is an innovative high-tech company that has developed its very own system for the production of advanced plastic details with nano patterns. Operations are based on an IPR-protected induction technique that makes it possible to heat and cool material – rapidly and with high precision. Initially, TC TECH has chosen to focus on systems for the production of diffusers for mini-LED and so-called Light Guide Plates (LGP) for screens and displays. TC TECH has its statutory seat and head office in Stockholm (Spånga), Sweden, where also R&D operations are based.
The TC TECH share is listed on Nasdaq First North Growth Market.
Arctic Securities is the company's Certified Adviser, email: certifiedadviser@arctic.com, tel: +46 844 68 61 00.