SAN JOSE, Calif., May 13, 2022 /PRNewswire/ -- On May 11, SID Display Week 2022, a premier event in the display industry, opened in San Jose, the United States. This coincides with the celebration of the 60th anniversary of the Society for Information Display (SID). As an eminent entrepreneur and industry expert, Dr. Gao Wenbao, President of BOE, was invited to deliver opening remarks at the celebration. In his keynote speech, Gao shared his insights on the status quo and development trends of the global display industry and put forth three innovation concepts crucial to the sustainable development of the display industry, which resonated with the attendees.
Gao is the only Chinese semiconductor display entrepreneur that has been invited to address the celebration. He said that since it was founded in 1962, SID has served as a comprehensive communication and cooperation platform covering technology, materials, equipment and applications and played a pivotal role in the commercialization of frontier display technologies, becoming the most prestigious gathering in the display industry. Established in 1993, BOE has emerged as a global leader in the semiconductor display industry. During its epic journey, BOE has spearheaded the development of China's display industry, which is now an integral part of the global display sector. Since 2014, BOE has forged close ties with SID. In the future, BOE will continue working alongside SID to promote the sound and sustainable development of the display industry.
Due to the changes in the global political and economic landscapes and the impact of the COVID-19 pandemic, the display industry has faced a variety of challenges such as the relationship between supply and demand and panel price fluctuations. Meanwhile, resource integration and structural optimization are taking place in the industry at a faster pace. As it becomes more concentrated, the industry is set to stay on a steady track. In face of the challenges and opportunities, Gao brought forward three innovation concepts essential to the sound development of the display industry.
Unleashing the vitality of industrial development through technological innovation. Innovation is the driving force of industrial development, and technological innovation is the bedrock of enterprises' development. Technological innovation should revolve around market and customer demands, and this is the most fundamental way to offset the impact of cyclical fluctuations and prompt the healthy development of the industry. Over the years, BOE has been dedicated to innovation. In 2021, it invested over RMB10 billion in R&D and stayed among top 10 worldwide by patent applications for five years in a row. Furthermore, the company has published more than 300 forward-looking technical papers and launched over 260 cutting-edge technologies and products through the platform of SID and received a total of 13 innovation awards including the DIA and People's Choice Awards. BOE has led or participated in the development of more than 300 industry standards, gradually transforming from a leader in technological innovation to an industry standard setter. BOE has constantly broken new ground in TFT-LCD, OLED and Mini/Micro LED and spurred industry upgrade with cutting-edge display technologies and products designed for customers across a spectrum of industries, giving a strong impetus to market demand and industry vitality.
Promoting the upgrade of industry value chain through business innovation. Over the last two decades, the rapid development of the display industry has been largely attributed to the construction of new production lines. However, unhealthy competition between enterprises in terms of capacity and scale has further complicated the industrial environment. Therefore, the display industry is in dire need of a healthier and more sustainable model of growth. In December 2021, BOE launched the first technology brand in China's semiconductor display industry, marking the beginning of its "technology + brand" dual-drive model and an important milestone for the industry. Its one-stop display solutions under the technology brand have been empowering various industries, not only increasing the premium and added value of display devices but also prompting the whole industry to shift from pursuit of scale to the new development path focused on technology and even value creation. This has accelerated the extension and upgrade of the entire industry value chain.
Navigating the leapfrog development of the industry through application innovation. In this day and age, displays have become the first touchpoint and key interface of information interaction, and display technologies and smart devices have penetrated into countless scenarios in everyday life, heralding the era where "displays are ubiquitous." In the new round of industrial revolution represented by 5G, AI big data, IoT and other cutting-edge technologies, digital and smart applications are ushering in a new era of the "internet of displays," bringing new opportunities for an IoT market worth trillions of yuan. Guided by the "internet of displays" strategy, BOE is bringing rich-featured displays in diverse forms to a wider range of scenarios and ramping up the integration of display technology and IoT applications to empower countless scenarios. By doing so, it is leading the entire industry chain towards the new era of the IoT.
Gao called on enterprises to proactively fulfill their corporate social responsibility and work together to create a green, healthy and sustainable environment while pursuing innovation-driven development. Over the years, BOE has embedded the green concept into the full lifecycle of R&D and production and actively promoted energy conservation and green development through technological innovation. The amount of electricity saved per year can meet the needs of 100,000 Chinese households in the whole year, and the amount of water saved is equivalent to annual water usage by nearly 50,000 Chinese households. Currently, BOE has 12 smart factories that have been designated as "national green factories." Green applications driven by technological innovation represent a major trend in the industry. BOE's products are energy-saving, recyclable, and eye-friendly, among other advantages. The digital badges worn by volunteers from BOE. In addition, the company has been empowering rural digital education through smart education solutions in a bid to help narrow urban-rural gaps in education and cultivate an enabling environment for the industry and society.
Innovation is an endless pursuit. Going forward, BOE will continue to bring into full play its role as industry leader and join hands with industry chain partners to create more value and fulfill the vision of the "internet of displays," thus bringing the industry into a new stage of sound and sustainable development.
Source: BOE Technology Group Co., Ltd. Related Stocks: Shenzhen:000725 Shenzhen:200725