Sapphire Applications & Market 2016 - LED and Consumer Electronics - From Technologies to Market
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From Technologies to Market
Sapphire
Applications &
Market 2016
LED and Consumer
Electronics
Report
© 2016
REPORT OBJECTIVES
The report provides a detailed analysis of the status and prospects of the sapphire industry for LED camera lenses and
fingerprint reader covers, smartwatch and smartphone displays:
• Trends and drivers in established and emerging applications
• LED chip manufacturing industry evolution
• Sapphire supply and demand: will global capacity decrease? Where are prices headed? Impact on revenue.Who will survive?
• Identify and describe the key players, both established and emerging
• Geographical trends
• Technology trends: crystal growth, wafer diameters, and patterned sapphire substrates (PSS)
• Emerging applications
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 2
REPORT METHODOLOGY
Market forecast methodology
Market segmentation methodology
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 3
REPORT METHODOLOGY
Technology analysis methodology Information collection
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 4
TABLE OF CONTENTS
• About p8 • Sapphire properties overview
• Sapphire properties vs. orientation
• Acronyms p9
• Value chain
• Product categories and applications covered in this report p10 • Example: Sapphire wafer process
• LED wafer forecast methodology p11 • Crystal Growth Geometric Yield
• Crystal Growth Process Yield
• Exchange rates p12
• Material defects and slicing
• What we saw, what we missed p13 • Core / brick length
• Executive Summary p14 • Major industry players: crystal growth
• Sapphire Application breakdown • Major industry players: wafer slicing and finishing
• LED Substrates • Major industry players: PSS
• LED filaments • Status of the Sapphire Industry p71
• Consumer Electronic Applications • Overview
• Apple Supply Chain • Price trends: cores for LED and optical wafers
• Smartwatches • Impact of 2” Market Disappearance
• Display covers • Grey Market
• Supply and Demand • Price trends: Conventional sapphire substrates for LED
• Price Trends • Price trends: patterned sapphire substrates for LED
• Captive and open markets • Discussion
• 2015 Revenue • Price trends: bricks and optical wafers for consumer electronic
• Long Term Revenue forecast for Finished Products • Long Term price forecast
• Noteworthy News for the Last 18 Months p50 • 2015 top 20 Sapphire company revenue for core, bricks & wafers
• Detailed breakdown
• Introduction to The Sapphire Industry p58
• Sapphire industry overview
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 5
TABLE OF CONTENTS
• Revenue structure: captive and open markets • Vertical Integration
• 2015 revenue breakdown for Core & bricks and polished wafers • Sapphire wafer consumption: Q3-2016 geographic breakdown
• 2015 revenue breakdown for optical and PSS wafers • Incentive for adoption of large diameter wafers
• Geographic breakdown per product category • Challenges for the adoption of large diameter wafers
• Exchange rates impacts • Conclusion
• Q3-2016 Diameter breakdown per region
• Status of the LED Industry p95
• Q3-2016 Diameter breakdown - global
• Status of the LED Industry: 2015
• 6” adoption Status
• Status of the LED Industry: 2016
• LED wafer diameter breakdown 2008-2021.
• 2011-2021 Nitride LED Substrate Breakdown Per Application
• 2011-2021 sapphire wafer start by diameter
• LED Market Trends - Lighting
• Patterned sapphire substrates – benefits
• LED bulb lifetimes
• When are PSS used?
• LED Market Trends - Displays
• PSS market: historical perspectives
• LED Video Displays
• Pattern Design
• LED Epitaxy (MOCVD) Capacity Trends p104 • PSS manufacturing process overview
• Gan MOCVD capacity 2010-2016 evolution per region
• Lithography techniques for LED
• Top 10 Global LED Chipmakers by Capacity
• Nano-PSS
• Top 20 LED Chipmakers In China
• Nano-imprint Litography (NIL)
• Focus on China
• Random structure NPSS
• GaN MOCVD capacity supply vs demand trends
• NPSS Status
• Gan MOCVD Q3-2016 utilization rate per region
• Q3-2016 CSS and PSS consumption per region
• Capacity and Wafer start - Geographic Breakdown
• PSS Supply chain
• LED Wafer Market & Forecast p113 • PSS Consumption and Sourcing Strategy
• LED wafers value chain
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 6
TABLE OF CONTENTS
• PSS Capacity Breakdown by Region and Company Type • Sapphire Camera Lens Cover – 2022 Adoption forecast
• 2011-2021 CSS and PSS volume forecast • Fingerprint reader covers: overview
• 2011-2021 Core shipment forecasts • Fingerprint reader Technology Trends
• 2011-2021 PSS Revenue Trends • Fingerprint reader covers: alternative technologies
• 2011-2021 CSS revenue Trends • Fingerprint reader covers: sapphire use
• 2011-2021 Revenue summary • Fingerprint reader covers: Sapphire Cover adoption trends
• Heart Monitor Sensor covers
• Alternative LED Substrates p150
• Optical Wafers 2012 -2021 volume and revenue forecast
• LED-on-si Overview
• Optical Wafers 2012 -2021 ingot (core) forecast
• LED-on-si cost of ownership
• LED-On-Si status Update • Smart Watches Market Review & Forecast p182
• Key players and strategic positioning • Introduction
• GaN-On-Gan • Forecasting the Smartwatch market
• Alternative substrates adoption forecast • Sapphire in Smartwatches: Apple Watch
• Sapphire in Smartwatches: Other brands
• “Optical Wafers” Market Review and Forecast: p160
• Sapphire in Smartwatches: sapphire adoption rate forecast
• Introduction
• Apple Supply Chain 2015-2016 and Excess Inventory
• Sapphire Components at Apple
• Sapphire covers design and slicing pitch
• Optical Wafer Manufacturing
• Sapphire smartwatch cover volume & Revenue forecast
• Camera lens covers: overview
• Recent Flagship Phones • Sapphire Display Covers p192
• Dual Cameras • Mobile devices display covers - Overview
• Dual Camera for iPhones • Touch panels – technology overview
• Lens cover Extraction Schemes • Display and touch sensor structures
• Camera lens covers: adoption trends
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 7
TABLE OF CONTENTS
• Touch sensors and display panels supply chain • Display cover volume forecast 2015-2021
• Display cover manufacturing process
• LED Filaments p225
• Potential Benefits of Sapphire display covers: mechanical strength
• Overview
• Potential Benefits of Sapphire display covers: dielectric constant
• Filament material
• Putting Sapphire to The Test: GTAT vs Corning
• Filament manufacturing process
• Putting Sapphire to The Test
• Performance and cost
• Impact of finishing process
• Industry Trends
• Conclusions on Mechanical Testing
• LED filament 2012-2021 shipment and revenue forecast
• Major issues of Sapphire display covers: cost etc…
• Supply and Demand Analysis p236
• Major issues with Sapphire display covers: reflectivity
• Definitions and metrics
• Anti-Reflection coating
• Brick and core extraction:
• Can Ion Implantation Solve the Reflectivity Problem?
• Definitions and metrics: TIE
• Summary
• From TIE to FIE (4 inch equivalent)?
• Current status
• Finishing, CSS and PSS Geographic Capacity breakdown
• Apple sapphire patent portfolio overview
• Crystal Growth Capacity: 2012-2016 evolution by region
• Rugged or Curved Displays: Which Strategy for Differentiation?
• Crystal Growth 2015 to 2016 Capacity Bridge
• 3D displays
• Crystal Growth Capacity: Top 20 ranking
• Sapphire Adoption trends
• Crystal growth technology breakdown
• Motorola Shatterproof Display
• Finishing Capacity: 2012-2016 evolution by region
• Motorola Shatterproof Display
• Finishing: 2015 to 2016 Capacity Bridge
• Status At Apple
• finishing Capacity: Top 20 ranking
• Scenario: partial roll out in a Premium model
• PSS Capacity: 2012-2016 evolution by region
• Conclusions
• PSS: 2015 to 2016 Capacity Bridge
• Display cover adoption rate forecast 2015-2021.
• PSS Capacity: Top 20 ranking
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 8
TABLE OF CONTENTS
• Material, finishing and PSS Supply vs demand • Focus On Taiwan p288
• Year On Year Capacity Trends • Overview
• Why is capacity still increasing? • 2011-2016 Revenue Trends
• The zombie companies • 2015 vs 2014 revenue
• Attrition and consolidation • Recent Revenue Trends: CAT and Tera Xtal
• Recent Attrition and Casualties In The Sapphire Industry • Recent Revenue Trends : Crystalwise and Rigidetch
• Supply vs demand analysis: no sapphire display cover • Recent Revenue Trends : Aceplux and Phecda
• Supply vs demand analysis: sapphire display cover adoption • Recent Revenue Trends: Procrystal
• Discussion • Leading and emerging companies
• Focus on China p269 • Focus On Korea p299
• Overview • Overview
• 2014 vs 2015 Revenue • 2014 vs 2015 Revenue
• Recent Projects • Recent Revenue Trends (iljin, STC, Hansol)
• Aurora Sapphire: Recent Trends • Major companies
• Aurora sapphire: 2011-2015 revenue and gross margins trends
• Focus On Japan p304
• Aurora sapphire: 2015 ASP and gross margins per product
• Overview
• Apple Supply Chain Evolution: Biel and Lens
• Major companies
• Recent Events: Lens
• Recent Events: Biel • Focus On Europe & Russia p307
• LED Vertical Integration: San’an and Crystaland • Overview
• Crystaland 2015 Revenue and Gross Margin Breakdown • Major companies
• Leading established companies • Monocrystal
• Tier-2 and emerging companies
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 9
TABLE OF CONTENTS
• Focus On North America p3012
• Rubicon
• Rubicon: 2014 and 2015 Revenue Breakdown
• GTAT
• Emerging Applications p317
• Introduction
• Example: Traditional Watch Industry
• Augmented Reality
• MicroLED displays
• Overview
• MicroLED Benefits
• Challenges: Overview
• Challenge in LED epitaxy and chip technologies
• Chip Separation Technologies:
• Chip Handling and Hybridization
• Color Conversion
• Conclusions
• Yole Presentation p332
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 10ABOUT THE AUTHORS
Biography & contact
Eric VIREY received a Ph-D in Optoelectronics from the National Polytechnic Institute of Grenoble. He’s held various R&D,
engineering, manufacturing and marketing positions with Fortune 500 company Saint-Gobain in France and the United States. In
its most recent position, he was Market Manager Optoelectronics in charge various product lines and serving the LED, optical
telecommunication and display industries. In parallel, he was leading the corporate “Lighting Community” effort, acting as a
market and technology competitive intelligence evangelist to identify and develop new business opportunities in solid state
lighting and displays (LED/OLEDs) across multiple business units.
Eric has a broad knowledge of the solid state lighting and display value chains. In 2009, he joined Yole Developpement as a Senior
Market and Technology Analyst for Solid State Lighting and Displays
Eric is also author / co-author of multiple reports (examples below) and contributed to various custom projects.
Contact: virey@yole.fr
• LED Packaging • Status of the LED Industry
• LED Front End Manufacturing • Sapphire Market & Applications
• III-V Epitaxy • Phosphors and Quantum Dots
• Bulk GaN • …
• GaN on Silicon
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 11PRODUCT CATEGORIES AND APPLICATIONS COVERED IN THIS REPORT
Single side polished Conventional Patterned Sapphire Substrates
Sapphire Wafers (CSS) for LED and (PSS) for LED epitaxy
Silicon On Sapphire epitaxy
Volume and
revenue Cores
forecast for
the check
marked
items are Double Side Polished Covers for camera lens, fingerprint
Optical Wafer reader and heart rate monitor
covered in
this report.
Bricks
Covers for camera lens, fingerprint
reader and heart rate monitor
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 12LED WAFER FORECAST METHODOLOGY
LED Demand by application
(9 Segments / 24 sub segments)
General Personal Projectors Sign and Large Automotive Cell Phone LCD TV Netbooks Other
Lighting Lighting Displays Monitors notebooks displays
Our LED Die surface per segment (assuming typical sapphire based LED lm/mm2 output)
methodology is
Account for in process and binning yields for
based on both each application
top bottom and
a bottom up Substrate surface per application segment
approach with
dozens of Wafer Diameter breakdown
interviews of
companies Substrate type: Sapphire / Silicon / GaN – convert surface based on lm/mm2 for each material
across the
entire value
chain (sapphire, 2” wafer demand* (TIE) 3” wafer demand (TIE) 4” wafer demand (TIE) 6” wafer demand (TIE)
LED…)
Account for thickness + core
extraction yields
2” material demand 3” material demand 4” material demand 6” material demand
(mm of TIE) (mm of TIE) (mm of TIE) (mm of TIE)
Sapphire Material Demand (mm of TIE)
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 13SAPPHIRE APPLICATION BREAKDOWN
Smartwatch Cell Phone
Cover Glass Cover Glass
Osram
LED remains the
dominant
application in
2016 as Apple Kyocera Huawei
smartwatches Total:
disappoint and
decrease below XXXM
2015 levels and mm of
the smartphone Optical Wafers
display cover TIE LED Substrates
opportunity
doesn’t take off.
Apple
2016 Material Consumption Breakdown Per Applications.
(Note: excludes traditional watches, aerospace, defense etc…)
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 14LED SUBSTRATES
• China experienced significant attrition and
some consolidations among smaller, tier-3
LED chipmakers. Nevertheless leading
companies such as XXXX and XXX both
kept increasing capacity in a bid to establish
dominance on the domestic market and cash
in on government subsidies about expire and
the end of 2016.
XXX is now • XXXX now boasts the #1 MOCVD capacity
the #1 company worldwide ahead of Taiwan-based rival Epistar.
in term of
MOCVD • Overall, despite attrition in most regions
capacity and 4 (Taiwan, China, Korea) worldwide MOCVD
Chinese capacity has increased by another XX% over
companies are the last 12 months.
in the top 10.
• Most companies also increase capacity
through process yield and efficiency. This
includes a reduction of the epilayer thickness,
often enabled by the use of an AlN PVD
buffer layer.
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 15CONSUMER ELECTRONIC APPLICATIONS
• Dual cameras are emerging as elements of differentiation in flagship cell
phones but have yet to demonstrate that the image quality improvement is
able to drive significant competitive advantage vs the extra cost of
implementation.
• Yole scenario is that dual rear cameras will not see large adoption. On the
other hand, a front dual camera may provide significant improvement in terms
of features such as video calling enhancement capabilities: background removal,
eye contact, parallax correction, avatars, gesture control etc. Front dual
Dual Cameras cameras are already featured in the LG V10 introduced in February 2016.
improve depth • But adoption in front face camera won’t have any impact on sapphire demand
of perception, since the module seats behind the display cover. The LG V10 Front camera
brightness, low
light and color
performance
HTC M8 HTC Butterfly 2 Huawei Honor HTC M9+ ZTE Axon LG G5 Huawei P9 Xiaomi Redmi
(2014) (2014) 6+ (2014) (2015) (2015) (2016) (2016) Pro (2016)
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 16APPLE SUPPLY CHAIN
2014 Camera lens and Fingerprint Reader Material Fluxes 2014 Apple Watch Material Fluxes
2014 Supply Chain
2016 Camera lens, Fingerprint Reader and Apple Watch Material Fluxes
Coating + Laser Cutting – Silk
Material (Bricks) Slicing + Polishing
Printing Assembly
TDG < 40%
Others?
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 17SMARTWATCHES
• So far most major smartwatch models beside the Apple Watch have been using glass. Only a few models
of Smartwatches offered by consumer electronic companies so far feature Sapphire: Huawei Watch, Garmin fēnix® 3
Sapphire and a few more anecdotic models.
• Sapphire has been more popular among traditional luxury (or high end) watch makers that are attempting to provide
products in the tradition of the Swiss watch industry, yet incorporating connected or smartwatch-like features. This
include for example the TAG Heuer Connected.
2015 Unit
Total
Brand Shipped % Sapphire
Sapphire
Estimates
Overall Apple XXM XX% XXM
adoption of Google
sapphire was /Motorola
XXM XX% XX
limited in
2015 and Samsung XXM XX% XX
driven by
Pebble XXM XX% XX
Apple.
Sony XXM XX% XX
LG XXM XX% XX
The TAG Heuer
Garmin XXM XX% XXM Connected feature
a sapphire window
Huawei XXM XX% XXM
Others XXM XX% XXM
Total XXM XXM The Huawei Watch features
Garmin fēnix® 3 Sapphire a sapphire window
2015 smartwatch shipment breakdown (Yole estimates) features a sapphire window
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 18PRICE TRENDS
• Continuous excess supply Average Average Average 2015 vs 2016 vs
combined with a significant drop in Cores
2014 2015 2016 (F) 2014 2015
LED wafer demand in Q3 and Q4 2" $ 3.6 $ 2.0 $ 1.0 -44% -51%
2015 led to an acceleration of ASP
4" $ 14.9 $ 9.3 $ 5.5 -38% -40%
decrease over the last 12 months.
6" $ 40.3 $ 31.0 $ 21.2 -23% -32%
• We expect ASP to stabilize in Q4-
Average: -35% -41%
2016. Price will resume a
downward trend in 2017 but most
ASP have likely at a slower pace than in 2015 Average Average Average 2015 vs 2016 vs
PSS
decrease and 2016. 2014 2015 2016 2014 2015
more than 2" $ 12.8 $ 9.6 $ 6.0 -25% -38%
30% per year • For 4” wafers, most companies are
operating with very low or 4" $ 51.0 $ 36.0 $ 23.9 -29% -34%
in 2015 and
2016 with negative gross margins. There is still 6" $ 155.3 $ 121.3 -22%
cores the room for decrease of 6” products Average: -27% -31%
hardest hit. where companies able to grow
larger crystals (>80 or 100kg)
Average Average Average 2015 vs 2016 vs
while maintaining high yields are at CSS
2014 2015 2016 2014 2015
an advantage.
2" $ 6.9 $ 5.2 $ 3.3 -25% -38%
• Chinese suppliers capture higher 4" $ 30.0 $ 22.0 $ 14.4 -27% -35%
ASP (10% of more) because their
6" $ 121.0 $100.0 $ 73.8 -17% -26%
products are no subject to duty
taxes on their domestic market Average: -23% -33%
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 192015 REVENUE
• The revenue below include: cores and bricks, finished wafers (LED, SOS and optical wafers), PSS and other optical
products (windows, etc…). Finished components with coating, silk printing etc…are NOT included.
2015 2015 2014 Previous
Company Local Name
Ranking Revenue Revenue Ranking
1 Rigidtech (TW) 銳捷科技股份有限公司 $ 75 $ 79 3
2 Aurora Sapphire (CN) 哈尔滨奥瑞德光电技术股份有限公司 $ 71 $ 74 4
3 Monocrystal (RU) Монокристалл $ 69 $ 87 1
4 Namiki (JP) 並木精密宝石 $ 67 $ 87 1
In this depressed
5 Crystalwise (TW) 兆遠科技股份有限公司 $ 53 $ 71 5
pricing trend and
increasing captive 6 Kyocera (JP) 京セラ $ 47 $ 61[1] 7
market, revenue 7 Crystal Applied Technology (TW) 晶美應用材料股份有限公司 $ 47 $ 64 6
decreased XX% in 8 Crystaland (CN) 云南蓝晶科技股份有限公司 $ 46 $ 31 14
2015 despite an 9 JeShine (CN) 江苏吉星新材料有限公司 $ 43 $ 22 21
overall XX% 10 Hansol Technics (KR) 한솔테크닉스 $ 36 $ 44 10
volume increase. 11 Iljin Display (KR) 일진디스플레이 $ 32 $ 38 12
The top 5 12 SSLM (KR) 에스에스엘엠 주식회사 $ 27 $ 25 18
companies 13 Sapphire Technology (KR) 사파이어테크놀로지 $ 26 $ 46 8
captured XX% and 14 Sinopat (CN) 东莞市中镓半导体科技有限公司 $ 26 $ 28 17
the top 20 XX% 15 TDG Core (CN) 天通银厦新材料有限公司 $ 25 $ 11 29
16 Rubicon (US) $ 24 $ 46 9
17 GAPSS (CN) 徐州同鑫光电科技有限公司 $ 23 $ 32 13
18 Tera Xtal (TW) 鑫晶鑽科技股份有限公司 $ 22 $ 42 11
19 Crystal Optech (CN) 浙江水晶光电科技股份有限公司 $ 21 $ 25 19
20 NJC (CN) 南京京晶光电科技有限公司 $ 18 $ 29 15
21 Others: $ 207 $ 304
22 Total $ 1,005 $ 1,246
[1] Revised ©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 20EXAMPLE: SAPPHIRE WAFER PROCESS
Core cropping, X-ray core
Boule Cropping,
orientation, OD grinding /
Crystal Growth X-Ray orientation, Core Core mounting Slicing
orientation adjustment,
Extraction & Cropping
Notch or flat grinding
Picture:Thermal Illustration :Rubicon
Illustration: Meyer Burger Illustration: Meyer Burger Illustration: Meyer Burger
Technology Technology
Metrology: Thickness, Metrology (Bow, Warp,
BOW, TTV, TV5 Shape measurement, flip Mechanical Polishing TTV, LTV, Sori, Sag…)
Lapping or Grinding
Thickness and quality sorting (concave / convex) + CMP Laser marking
sorting (up to 30 bins) Final cleaning
Illustration: Meyer Burger Picture:TeraXtal Illustration: Meyer Burger Picture:Corning/Tropel
Illustration: Meyer Burger
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 212011-2021 SAPPHIRE WAFER START BY DIAMETER
XXXXXXXXX
XXXXXXXXX
XXXXXXXXX
XXXXXXXXX
XXXXXXXXX
XXXXXXXXX
XXX.
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 22NANO-PSS
• Nano PSS (NPSS) are similar to traditional PSS but use sub-micron patterns with typical dimension in the 250 to
1000 nm range. Compared to traditional PSS, NPSS have been reported to increases Light Extraction Efficiency
(LEE) at the chip level by another 10-20% versus standard PSS.
• Due to the lower depth and higher density of the patterns, NPSS also reduces etching and epitaxial coalescence
times.This could increase MOCVD throughput and lower equipment cost.
CSS PSS NPSS
NPSS could
increase light
output by 10-
20% versus
standard PSS and
could increase
MOCVD Light with large incident angle is Light with large incident angle is Light with large incident angle is scattered
throughput. But reflected and eventually re- reflected at a different angle, at multiple angles (diffuse reflection)
absorbed. increasing chances to escape
they are further increasing chances to escape
challenging to
manufacture. Closer patterns promote faster coalescence
and dislocation annihilation
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 23INDUSTRY TRENDS
• Epistar has acquired a significant
patent portfolio around LED
filament and is cooperating with
downstream customers including
leading Chinese LED packager and
LED luminaire manufacturer XXX
(XXX) to design LED filament bulb
and specific chips.
• MLS is significantly expanding its
Epistar has a LED filament bulb business. In
strong IP January 2016, it announced the
position on acquisition of XXX a Hong Kong
LED filament based CFL and halogen lamp
manufacturer which entered the
technologies.
LED Filament bulb market in 2009
and has more than 200 references
on its catalog under its “Luxtek”
brand.
• Other Epistar licensees include Source: Epistar
XXX and XXX
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 24CRYSTAL GROWTH CAPACITY: 2012-2016 EVOLUTION BY REGION
• Despite some attrition, global crystal
growth capacity keeps increasing.
• In China, capacity increased XXXx in the
last 4 years, faster than any other region.
China increased its capacity share from
XXX% in 2012 to XXX% in 2016.
Global crystal • China experienced a 1st wave of investment
growth in 2010-2011, driven by subsidies in the LED Total: XXX
capacity market and a 2nd in 2014, driven by hopes million of
tripled over of the emergence of display cover mm of TIE
the last 4 applications. per month as
years, and kept of Q3-2016
increasing in • However, we’re starting to see some
2015-2016 attrition: companies such as Shangcheng and
2012
despite Hyperion Geocrystal have stopped crystal
significant growth activities. 2014
overcapacity • Many other companies have not officially 2015
pulled the plug but their capacity is mostly 2016
frozen. The numbers on the graphs
presented on this page therefore represent
the installed capacity rather than the Note: breakdown based on capacity physically present in each region (not by headquarter
currently active capacity. location of the company)
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 25MONOCRYSTAL
The company
keeps
increasing
capacity Finishing capacity
through increasing to XXM by
process the end of 2016
improvement
and new
equipment 14
Monocrystal capacity evolution Top: Monocrystal 300kg KY boule.
Bottom: bricks and cores.
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 26OVERVIEW
• In a typical display, each pixel is constituted of Red, Green and Blue (RGB) subpixels controlled independently
by a matrix of transistors.
• The idea behind MicroLED displays is to use individual, small LED chips as the sub-pixel. Typical sizes are below
100 µm, often as small as 10-20 µm. The chips are positioned and connected to the transistor matrix via a pick
and place process.
µLED display
is a self
emitting
display
technologies
where each
subpixel is an
individual
LED chip
Red, Green, Blue LED Chip singulation Sorting and Pick and place +
Epiwafers hybridization to the transistor matrix
©2016 | www.yole.fr | Sapphire Applications and Market 2016: LED and Consumer Electronics | Sample 27RELATED REPORTS
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ABOUT YOLE DEVELOPPEMENT
Founded in 1998, Yole Développement has grown to become a group of companies providing marketing, technology and strategy consulting, media in addition to
corporate finance services. With a strong focus on emerging applications using silicon and/or micro manufacturing (technology or process), Yole Développement
group has expanded to include more than 50 associates worldwide covering MEMS, Compound Semiconductors, LED, Image Sensors, Optoelectronics, Microfluidics
& Medical, Photovoltaics, Advanced Packaging, Manufacturing, Nanomaterials and Power Electronics. The group supports industrial companies, investors and R&D
organizations worldwide to help them understand markets and follow technology trends to develop their business.
CONSULTING FINANCIAL SERVICES REPORTS
• Market data & research, marketing analysis • Mergers & Acquisitions • Collection of technology & market reports
• Technology analysis • Due diligence • Manufacturing cost simulation tools
• Reverse engineering & costing services • Fundraising •C omponent reverse engineering & costing
• Strategy consulting More information on Jean-Christophe Eloy analysis
• Patent analysis (eloy@yole.fr) • Patent investigation
More information on www.yole.fr More information on www.i-micronews.com/reports
MEDIA & EVENTS CONTACTS
• i-Micronews.com, online disruptive technologies website For more information about :
•@ Micronews, weekly e-newsletter •C onsulting Services: Jean-Christophe Eloy (eloy@yole.fr)
•C ommunication & webcasts services • F inancial Services: Jean-Christophe Eloy (eloy@yole.fr)
• E vents: Yole Seminars, Market Briefings… •R eport Business: Fayçal Khamassi (khamassi@yole.fr)
More information on www.i-micronews.com • Press relations: Sandrine Leroy (leroy@yole.fr)TERMS AND CONDITIONS OF SALES
Definitions: “Acceptance”: Action by which the Buyer accepts 2.5 T he person receiving the Products on behalf of the Buyer 4.8 The Seller does not make any warranties, express or implied,
the terms and conditions of sale in their entirety. It is done by shall immediately verify the quality of the Products and their including, without limitation, those of sale ability and fitness for
signing the purchase order which mentions “I hereby accept conformity to the order. Any claim for apparent defects or a particular purpose, with respect to the Products. Although
Yole’s Terms and Conditions of Sale”. for non-conformity shall be sent in writing to the Seller within the Seller shall take reasonable steps to screen Products for
“Buyer”: Any business user (i.e. any person acting in the course 8 days of receipt of the Products. For this purpose, the Buyer infection of viruses, worms, Trojan horses or other codes
of its business activities, for its business needs) entering into the agrees to produce sufficient evidence of such defects. . containing contaminating or destructive properties before
following general conditions to the exclusion of consumers acting 2.6
No return of Products shall be accepted without prior making the Products available, the Seller cannot guarantee
in their personal interests. information to the Seller, even in case of delayed delivery. that any Product will be free from infection.
Any Product returned to the Seller without providing prior 5. FORCE MAJEURE
“Contracting Parties” or “Parties”: The Seller on the information to the Seller as required under article 2.5 shall
one hand and the Buyer on the other hand. The Seller shall not be liable for any delay in performance directly
remain at the Buyer’s risk. or indirectly caused by or resulting from acts of nature, fire, flood,
“Intellectual Property Rights” (“IPR”) means any accident, riot, war, government intervention, embargoes, strikes,
rights held by the Seller in its Products, including any patents, 3. PRICE, INVOICING AND PAYMENT
labor difficulties, equipment failure, late deliveries by suppliers or
trademarks, registered models, designs, copyrights, inventions, 3.1 Prices are given in the orders corresponding to each Product
other difficulties which are beyond the control, and not the fault
commercial secrets and know-how, technical information, sold on a unit basis or corresponding to annual subscriptions.
of the Seller.
company or trading names and any other intellectual property They are expressed to be inclusive of all taxes. The prices
rights or similar in any part of the world, notwithstanding the fact may be reevaluated from time to time. The effective price is 6. PROTECTION OF THE SELLER’S IPR
that they have been registered or not and including any pending deemed to be the one applicable at the time of the order. 6.1 A
ll the IPR attached to the Products are and remain the
registration of one of the above mentioned rights. 3.2 Yole may offer a pre release discount for the companies willing property of the Seller and are protected under French and
to acquire in the future the specific report and agreeing on the international copyright law and conventions.
“License”: For the reports and databases, 3 different licenses 6.2 The Buyer agreed not to disclose, copy, reproduce,
fact that the report may be release later than the anticipated
are proposed. The buyer has to choose one license: redistribute, resell or publish the Product, or any part of it
release date. In exchange to this uncertainty, the company will
• One user license: one person at the company can use the report. to any other party other than employees of its company. The
get a discount that can vary from 15% to 10%.
• Multi-user license: the report can be used by unlimited users Buyer shall have the right to use the Products solely for its
3.3 Payments due by the Buyer shall be sent by cheque payable to
within the company. Subsidiaries and Joint-Ventures are not own internal information purposes. In particular, the Buyer
Yole Développement, credit card or by electronic transfer to
included. shall therefore not use the Product for purposes such as:
• Corporate license: purchased under “Annual Subscription” the following account:
HSBC, 1 place de la Bourse 69002 Lyon France • Information storage and retrieval systems;
program, the report can be used by unlimited users within the • Recordings and re-transmittals over any network (including
company. Joint-Ventures are not included. Bank code: 30056
Branch code: 00170 any local area network);
“Products”: Depending on the purchase order, reports or Account n°: 0170 200 1565 87 • Use in any timesharing, service bureau, bulletin board or
database on MEMS, CSC, Optics/MOEMS, Nano, bio… to BIC or SWIFT code: CCFRFRPP similar arrangement or public display;
be bought either on a unit basis or as an annual subscription. IBAN: FR76 3005 6001 7001 7020 0156 587 • Posting any Product to any other online service (including
(i.e. subscription for a period of 12 calendar months). The To ensure the payments, the Seller reserves the right to request bulletin boards or the Internet);
annual subscription to a package (i.e. a global discount based down payments from the Buyer. In this case, the need of down • Licensing, leasing, selling, offering for sale or assigning the
on the number of reports that the Buyer orders or accesses payments will be mentioned on the order. Product.
via the service, a global search service on line on I-micronews 6.3 The Buyer shall be solely responsible towards the Seller of
3.4 Payment is due by the Buyer to the Seller within 30 days
and a consulting approach), is defined in the order. Reports are all infringements of this obligation, whether this infringement
from invoice date, except in the case of a particular written
established in PowerPoint and delivered on a PDF format and the comes from its employees or any person to whom the Buyer
agreement. If the Buyer fails to pay within this time and fails
database may include Excel files. has sent the Products and shall personally take care of any
to contact the Seller, the latter shall be entitled to invoice
related proceedings, and the Buyer shall bear related financial
“Seller”: Based in Lyon (France headquarters), Yole interest in arrears based on the annual rate Refi of the «BCE»
consequences in their entirety.
Développement is a market research and business development + 7 points, in accordance with article L. 441-6 of the French
6.4 T
he Buyer shall define within its company point of contact for
consultancy company, facilitating market access for advanced Commercial Code. Our publications (report, database, tool...)
the needs of the contract. This person will be the recipient
technology industrial projects. With more than 20 market are delivered only after reception of the payment.
of each new report in PDF format. This person shall also be
analysts, Yole works worldwide with the key industrial companies, 3.5 In the event of termination of the contract, or of misconduct,
responsible for respect of the copyrights and will guaranty that
R&D institutes and investors to help them understand the markets during the contract, the Seller will have the right to invoice
the Products are not disseminated out of the company.
and technology trends. at the stage in progress, and to take legal action for damages.
6.5 In the context of annual subscriptions, the person of contact
1. SCOPE shall decide who within the Buyer, shall be entitled to access
1.1 The Contracting Parties undertake to observe the following 4. LIABILITIES on line the reports on I-micronews.com. In this respect, the
general conditions when agreed by the Buyer and the Seller. 4.1 The Buyer or any other individual or legal person acting on Seller will give the Buyer a maximum of 10 password, unless
ANY ADDITIONAL, DIFFERENT, OR CONFLICTING its behalf, being a business user buying the Products for its the multiple sites organization of the Buyer requires more
TERMS AND CONDITIONS IN ANY OTHER DOCUMENTS business activities, shall be solely responsible for choosing the passwords. The Seller reserves the right to check from time
ISSUED BY THE BUYER AT ANY TIME ARE HEREBY Products and for the use and interpretations he makes of the to time the correct use of this password.
OBJECTED TO BY THE SELLER, SHALL BE WHOLLY documents it purchases, of the results he obtains, and of the 6.6 In the case of a multisite, multi license, only the employee
INAPPLICABLE TO ANY SALE MADE HEREUNDER AND advice and acts it deduces thereof. of the buyer can access the report or the employee of the
SHALL NOT BE BINDING IN ANY WAY ON THE SELLER. 4.2 The Seller shall only be liable for (i) direct and (ii) foreseeable companies in which the buyer have 100% shares. As a matter
1.2 This agreement becomes valid and enforceable between the pecuniary loss, caused by the Products or arising from a of fact the investor of a company, the joint venture done with
Contracting Parties after clear and non-equivocal consent material breach of this agreement a third party etc..cannot access the report and should pay a
by any duly authorized person representing the Buyer. For 4.3 In no event shall the Seller be liable for: full license price.
these purposes, the Buyer accepts these conditions of sales a) damages of any kind, including without limitation, incidental
when signing the purchase order which mentions “I hereby or consequential damages (including, but not limited to, 7. TERMINATION
accept Yole’s Terms and Conditions of Sale”. This results in damages for loss of profits, business interruption and loss of 7.1 If the Buyer cancels the order in whole or in part or postpones
acceptance by the Buyer. programs or information) arising out of the use of or inability the date of mailing, the Buyer shall indemnify the Seller for
1.3 Orders are deemed to be accepted only upon written to use the Seller’s website or the Products, or any information the entire costs that have been incurred as at the date of
acceptance and confirmation by the Seller, within [7 days] from provided on the website, or in the Products; notification by the Buyer of such delay or cancellation. This
the date of order, to be sent either by email or to the Buyer’s b) any claim attributable to errors, omissions or other may also apply for any other direct or indirect consequential
address. In the absence of any confirmation in writing, orders inaccuracies in the Product or interpretations thereof. loss that may be borne by the Seller, following this decision.
shall be deemed to have been accepted. 4.4 All the information contained in the Products has been 7.2 In the event of breach by one Party under these conditions
2. MAILING OF THE PRODUCTS obtained from sources believed to be reliable. The Seller or the order, the non-breaching Party may send a notification
2.1 P roducts are sent by email to the Buyer: does not warrant the accuracy, completeness adequacy or to the other by recorded delivery letter upon which, after a
• within [1] month from the order for Products already reliability of such information, which cannot be guaranteed to period of thirty (30) days without solving the problem, the
released; or be free from errors. non-breaching Party shall be entitled to terminate all the
• within a reasonable time for Products ordered prior to 4.5 All the Products that the Seller sells may, upon prior notice
pending orders, without being liable for any compensation.
their effective release. In this case, the Seller shall use its best to the Buyer from time to time be modified by or substituted
endeavours to inform the Buyer of an indicative release date with similar Products meeting the needs of the Buyer. This 8. MISCELLANEOUS
and the evolution of the work in progress. modification shall not lead to the liability of the Seller, All the provisions of these Terms and Conditions are for the
2.2 Some weeks prior to the release date the Seller can propose provided that the Seller ensures the substituted Product is benefit of the Seller itself, but also for its licensors, employees
a pre-release discount to the Buyer similar to the Product initially ordered. and agents. Each of them is entitled to assert and enforce those
The Seller shall by no means be responsible for any delay in 4.6 In the case where, after inspection, it is acknowledged that provisions against the Buyer.
respect of article 2.2 above, and including incases where a the Products contain defects, the Seller undertakes to replace Any notices under these Terms and Conditions shall be given in
new event or access to new contradictory information would the defective products as far as the supplies allow and without writing. They shall be effective upon receipt by the other Party.
require for the analyst extra time to compute or compare indemnities or compensation of any kind for labor costs, The Seller may, from time to time, update these Terms and
the data in order to enable the Seller to deliver a high quality delays, loss caused or any other reason. The replacement is Conditions and the Buyer, is deemed to have accepted the latest
Products. guaranteed for a maximum of two months starting from the version of these terms and conditions, provided they have been
2.3 The mailing of the Product will occur only upon payment delivery date. Any replacement is excluded for any event as set communicated to him in due time.
by the Buyer, in accordance with the conditions contained out in article 5 below.
in article 3. 4.7 T
he deadlines that the Seller is asked to state for the mailing 9. GOVERNING LAW AND JURISDICTION
2.4. The mailing is operated through electronic means either by of the Products are given for information only and are not 9.1
Any dispute arising out or linked to these Terms and
email via the sales department or automatically online via an guaranteed. If such deadlines are not met, it shall not lead to Conditions or to any contract (orders) entered into in
email/password. If the Product’s electronic delivery format any damages or cancellation of the orders, except for non application of these Terms and Conditions shall be settled
is defective, the Seller undertakes to replace it at no charge acceptable delays exceeding [4] months from the stated by the French Commercial Courts of Lyon, which shall have
to the Buyer provided that it is informed of the defective deadline, without information from the Seller. In such case only, exclusive jurisdiction upon such issues.
formatting within 90 days from the date of the original the Buyer shall be entitled to ask for a reimbursement of its first 9.2 French law shall govern the relation between the Buyer and
download or receipt of the Product. down payment to the exclusion of any further damages. the Seller, in accordance with these Terms and Conditions.Yole Développement From Technologies to Market
FIELDS OF EXPERTISE
Yole Développement’s 30 analysts operate in the following areas
Imaging Photonics
MEMS &
Sensors
MedTech
Compound
Semi.
Manufacturing
LED
Power Advanced Packaging
Electronics Batteries / Energy
Management ©2016 | www.yole.fr | About Yole Développement 304 BUSINESS MODELS
o Consulting and Analysis
• Market data & research, marketing analysis o Financial services
• Technology analysis • M&A (buying and selling)
• Strategy consulting • Due diligence
• Reverse engineering & costing • Fundraising
• Patent analysis • Maturation of companies
www.yole.fr • IP portfolio management & optimization
www.yolefinance.com
www.bmorpho.com
o Reports
• Market & Technology reports o Media
• Patent Investigation and patent infringement risk • i-Micronews.com website
analysis • @Micronews e-newsletter
• Teardowns & Reverse Costing Analysis • Communication & webcast services
• Cost Simulation Tool • Events
www.i-Micronews.com/reports www.i-Micronews.com
31A GROUP OF COMPANIES
M&A operations
Due diligences
www.yolefinance.com
Fundraising
Maturation of companies
IP portfolio management & optimization
Market, www.bmorpho.com
technology and
strategy Manufacturing costs analysis
Teardown and reverse engineering
consulting
Cost simulation tools
www.systemplus.fr
www.yole.fr
IP analysis
Patent assessment
www.knowmade.fr
32OUR GLOBAL ACTIVITY
33SERVING THE ENTIRE SUPPLY CHAIN
Integrators and
end-users
Device
Our analysts
makers
provide market
analysis,
technology
evaluation, and
business plan Suppliers: material,
along the equipment, OSAT,
entire supply foundries…
chain
Financial investors,
R&D centers
34CONTACT INFORMATION
• Consulting and Specific Analysis
• North America: Steve LaFerriere, Director of Northern America Business Development
Email: laferriere@yole.fr
• Asia: Takashi Onozawa, Representative Director, Yole KK.
Email: onozawa@yole.fr
• RoW: Jean-Christophe Eloy, CEO & President, Yole Développement
Email eloy@yole.fr
• Report business
• North America: Steve LaFerriere, Director of Northern America Business Development
Email: laferriere@yole.fr
• Europe: Lizzie Levenez, EMEA Business Development Manager
Email: levenez@yole.fr
• Japan & Asia: Takashi Onozawa, Representative Director, Yole KK.
Email: onozawa@yole.fr Follow us on
• Greater China: Mavis Wang, Business Development Director
Email: wang@yole.fr
• Financial services
• Jean-Christophe Eloy, CEO & President
Email: eloy@yole.fr
• General
• Email: info@yole.fr
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