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【Oled 跟踪】Kgi: 苹果将于2018 年推出两款5.8 吋和6.5 吋oled 显示屏手机

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【Oled 跟踪】Kgi: 苹果将于2018 年推出两款5.8 吋和6.5 吋oled 显示屏手机 行业研究 显示器件 证券研究报告 2017 年 11 月 21 日 行 显示器件 业 周 【OLED 跟踪】KGI: 苹果将于 2018 年推 行业评级 推荐 报 出两款 5.8 吋和 6.5 吋 OLED 显示屏手机 评级变动 首次评级 投资要点 华创证券研究所 1. OLED 行业重要资讯 证券分析师：张健 （1）苹果收购台湾量子薄膜胶片公司 InVisage 以变革智能手机 执业编号：S0360517080001 电话：021-31217336 （2）颀邦有望拿下苹果、大陆京东方及天马明年 OLED 驱动 IC 封测订单 邮箱：[email protected] （3）智晶就 In-Cell Touch OLEDdisplay 布局中国 相关研究报告 （4）一加 5T 售价曝光 有了全面屏价格会变么？ （5）LG 于 2018 年扩产电视用 OLED 面板，扩产幅度最高逾六成 《显示器件行业报告：【华创电子】2017 韩国 OLED 产业链调研纪要》 （6）传苹果缩编 Mini LED 团队,转移人力做 OLED 2017-09-18 《显示器件行业报告：【OLED 跟踪】预计京东 （7）精测电子产业垂直整合 4.9 亿参股合肥视涯 99.79%股权 方今年 10 月底将出货首批柔性 AMOLED 屏幕》 2017-10-10 （8）iPhone X 被《时代》评为 2017 年最佳发明之一 《显示器件行业报告：【OLED 跟踪】台湾供应 链传新 iPad 即将要用上 OLED 全面屏》 （9）宜家推出首款 OLED 枝形吊灯 Vitsand 2017-10-16 （10）LG Display 发布视频展示其 OLED 照明设备在韩国和香港的应用 （11）KGI: 苹果将于 2018 年推出两款 5.8"和 6.5"的 OLED 显示屏手机 （12）HTC 推出搭载 ALOLED 显示屏的虚拟现实头盔 Vive Focus （13） IHS Markit 预计，2018 年柔性 AMOLED 面板的产能将比需求高 出 44% （14）UBI: 高端 OLED 和 LCD 电视之间的价格差距几近消失 （15）Screen FT 推出一个新的 6 代 OLED 沉积系统 （16）LOMID 项目合作伙伴设法量产 1"的弯曲高分辨 OLED 微显示器 （17）Holst 中心开发并展示了新的封装部件用于可折叠 OLED 显示屏 （18）维信诺展示了新的 OLED 面板和柔性 OLED 显示屏的终端产品 （19）DSCC: OLED 材料复合年增长率达 20% 将于 2022 年达到 22.5 亿美元 2. OLED 产业链标的重要公告汇总 【TCL】：公司拟在惠州市仲恺区陈江街道投资建设 TCL 集团模组整机一 体化智能制造产业基地——华星光电高世代模组子项目，总投资约 96 亿 元，其中惠州华星出资 78.45 亿元，TCL 产业园出资 17.55 亿元。 【激智科技】：2017 年 1 月 1 日至 11 月 18 日累计获得各项政府补助资金 1324 万元。公司累计投资人民币 3000 万元认缴合肥视涯新增注册资本人 民币 3000 万元，公司共持有合肥视涯 6.0201%股权。 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 未经许可，禁止转载 行业周报 3. OLED 行业未来相关展会 （1） 群智活动-全球 OLED 产业链发展趋势与机会研讨会（2017.11.24）， 深圳； （2） CES 2018 美国拉斯维加斯国际消费类电子产品展览会（2018.1.9- 12），美国； （3） 第七届中国国际 OLED 产业峰会（2018.1.25-26），上海； （4） 2018 OLED KOREA Conference（2018.3.7-8），韩国。 风险提示 全球 OLED 行业发展速度不及预期；国产供应链崛起速度不及预期。 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 2 行业周报 一、OLED 行业重要资讯 1. 苹果收购台湾量子薄膜胶片公司 InVisage 以变革智能手机 11 月 13 日中国触摸屏网讯，苹果证实收购 InVisage，量子点材料将变革智能手机。“我们正处在摄像头变革的开 始。”InVisage Technologies CEO Jess Lee 说。最近，苹果证实收购在台湾新竹科学园区设厂的这家硅谷创业公 司。InVisage 专门研发提升空间有限设备（比如，手机）成像能力的技术，开发出了一种能够在不牺牲图像质量的 情况下创建更小图像传感器。苹果持续发力更小但功能更强大的计算设备。据 InVisage 介绍，自己的技术可被用 于物联网，以及身份验证、AR/VR 等。该公司技术有望被用于解决 iPhone 摄像头突出问题，改善 FaceID 技术。 另外，较小的图像传感器可以帮助苹果制造出更轻盈的 AR 眼镜，提供改善后的舒适性和沉浸感。 （来源：中国触摸屏网） 2. 颀邦有望拿下苹果、大陆京东方及天马明年 OLED 驱动 IC 封测订单 受惠苹果订单加持，颀邦（6147）下半年业绩表现优于预期，专家指出随着公司持续扩大资本支出、深化产品布局， 效益逐渐显现，明年营运可望续强。颀邦受惠于智能型手机开始采用触控与显示驱动器整合（TDDI）方案，以及搭 载面板朝向 18：9 或 19：9 的全屏幕趋势发展，订单量增，第 3 季每股净利 1.08 元，优于市场预期。颀邦近年来 深化非面板驱动 IC 布局，其中金凸块产品因功率放大器客户拉货，射频组件以及滤波器等应用出货稳健向上，此外， TDDI 芯片因中国大陆手机拉货，金凸块出货和测试产能高档，布局效益逐步显现。展望明年，颀邦拿下苹果、大陆 京东方及天马明年 OLED 驱动 IC 封测订单，且射频组件封装制程改用晶圆级封装，带动晶圆凸块接单畅旺，法人 预估营收占比将由今年的 7.5％大幅提升到明年的 12％，营运动能可望续强。 （来源：中国触摸屏网） 3. 智晶就 In-Cell Touch OLEDdisplay 布局中国 被动式有机发光显示器(PMOLED)大厂智晶光电，在大陆深圳中国国际高新技术成果展展示最新内嵌触控面板产品。 智晶看好此技术可简化产品制程、材料成本和组装复杂度。智晶看好嵌入式触控面板(In-Cell Touch OLEDdisplay) 趋势，新推出内嵌式触控面板可以快速解决触控组件安装需求，制造商及设计商可因此简化产品制程、材料成本及 组装上的复杂度。智晶指出，被动式有机发光显示器(PMOLED)模块结构相对简单，轻薄且有高对比度度及高亮度 的显示效果，性价比高，进而提升终端产品价值。公司今年加速拓展新应用领域，研发出嵌入式触控面板、可挠式、 穿透式等新产品技术，研发能量强劲；在深圳高交会展展出 1.8 吋、1.36 吋可挠式面板，可挠式面板技术再提升， 厚度只有 0.3mm，能应用在便携设备上，包括工控器具、智能手环、识别证等产品应用。 （来源：中国触摸屏网） 4. 一加 5T 售价曝光 有了全面屏价格会变么？ 国产不将就的一加手机终于要上全面屏了，粉丝们在激动之余最关心的还有售价问题。从目前曝光的消息来看，一 加首款全面屏手机一加 5T 配置方面变化不大，近日推特爆料大神又曝光了一加 5T 海外版本的售价，国行版本估计 并不会涨价。此次一加 5T 将有两个版本，6GB+64GB 版本售价 32999 印度卢比（约合人民币 3347 元），8GB+128GB 版本售价 37999 印度卢比（约合人民币 3854 元），与之前印度版本的售价基本一致，看来今年国行版的售价可能 也还会是 2999 元起。配置方面从目前曝光的消息来看，一加 5T 将采用一块 18：9 的 OLED 全面屏，搭载骁龙 835 处理器，拥有 6GB+64GB/8GB+128GB 存储组合，拥有前置 1610 万、后置 1600 万+2000 万像素的双摄组合，采 用后置指纹识别，于运行基于 Android 7.1.1 的氧 OS 4.7.0 系统。 （来源：电子工程世界） 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 3 行业周报 5. LG 于 2018 年扩产电视用 OLED 面板，扩产幅度最高逾六成 根据《日本经济新闻》报导，南韩面板大厂 LG 已决定，将在 2018 年最多生产可供 280 万台高分辨率 OLED 电 视使用的 OLED 面板，比 2017 年的产量预期增加六成。由于目前全球 OLED 电视面板由 LG 独家供应，此项 扩产计划后，OLED 电视的市场占有率将提升至 1%，OLED 于电视市场会逐渐普及。根据报导，LG 计划电视用 OLED 面板从 2017 年的 170 万台，提升至 2018 年的 250 万到 280 万台产量，增产幅度达 35% 至 65%。 为了支持扩厂计划，LG 预计 2017 年投入约 5,000 亿日圆（约新台币 1,332 亿元）资金，总金额是 2016 年 3 倍。 随着市场扩大，电视市场的竞争将更激烈，产品价格也有较大的下降可能。 LG 提供日本 Sony 和松下等 13 家电视企业电视用 OLED 面板。LG 表示，电视用 OLED 面板领域几乎掌控 100% 市场。LG 在 10 月宣布，2017 年设备投资金额约 7,000 亿日圆（约新台币 1,865 亿元），较 2016 成 长 90%。市场分析师认为，设备投资金额约 7 成用于 OLED 面板投资。预计，LG 自 2018 年到 2020 年期间， 包括投资首座中国工厂，计划在中韩两国 OLED 面板扩产追加投资达 1 兆日圆（约新台币 2 ,664 亿元）以上。 （来源：电子工程世界） 6. 传苹果缩编 Mini LED 团队,转移人力做 OLED 集微网消息，苹果研发 Micro LED 的团队传出缩编，恐影响 Micro LED 大量应用的时程。Micro LED 被视为是下一 代的显示器技术，与AMOLED分庭抗礼，苹果在台湾龙潭设立研发基地，研发的主要项目包括AMOLED与Micro LED 等先进的显示器产品。原先外界传出，Apple Watch 因为屏幕最小，最快在 2018 年可以采用 Micro LED 作为屏幕。 外界认为，苹果 2018 年将推出两款 OLED 版的 iPhone，而 Micro LED 量产时程短期内看不到成果，因资源有限之 下，苹果转移部分人力去做 OLED，减少 Micro LED 的研发人力。 苹果 2014 年砸下 3 亿至 4 亿美元，从台厂手中买下 LuxVue，成为全球拥有 Micro LED 技术最多专利的公司，外界 原本认为，苹果可能在 2018 至 2019 年在 Apple Watch 采用 Micro LED，但受到技术无法突破， 苹果采用 Micro LED 时程可能延后。不过，目前 iPhone X 采用三星供应的 AMOLED 面板，为摆脱零组件来自对手的威胁，苹果投入研 发 Micro LED，业界认为长期来说，Micro LED 仍有发展机会。 （来源：电子工程世界） 7. 精测电子产业垂直整合 4.9 亿参股合肥视涯 99.79%股权 据了解，早在 2017 年 9 月 1 日，总投资 20 亿元的合肥视涯信息科技有限公司的硅基 OLED 微型显示器项目落地合 肥新站区，其计划 2018 年 9 月开始设备搬入，2019 年投产，预计 2020 年可实现月加工 6000 片 12 寸晶圆产能， 年产 2000 万片微型显示器件，届时将成为全球最大的硅基 OLED 微型显示器件（Micro-OLED）生产基地。而合肥 视涯显示科技是由上海视涯信息科技发起设立的全资子公司，上海视涯科技已经掌握有常规液晶显示生产线、低温 多晶硅 TFT 液晶和蒸渡工艺 OLED 产品的制造技术，董事长顾铁先生是中国显示领域的领军人物，曾规划并筹建了 中国第一条 4.5 代 TFT-LCD 生产线、国内第一条 OLED 中试线、国内第一条 5.5 代 LTPS 生产线和第一条 OLED 量产线。 2017 年 11 月 13 日，据手机报在线了解到，据精测电子发布公告表示，公司将与合肥新沣河企业管理合伙企业、厦 门盛芯材料产业投资基金合伙企业、宁波宇微投资合伙企业、宁波激智科技股份有限公司、光驰科技（上海）有限 公司、合肥市新站产业投资有限公司、上海视涯信息科技有限公司于 2017 年 11 月 13 日签订《关于合肥视涯显示 科技有限公司之投资协议》。与上述投资者共同向合肥视涯显示科技有限公司进行增资，分二期以合计人民币 49,733 万元认缴合肥视涯新增注册资本人民币 4.9 亿元，总计取得增资后合肥视涯约 99.7993%的股权。两期增资完成后， 精测电子累计投资人民币 6000 万元认缴合肥视涯新增注册资本人民币 6000 万元，公司总计持有合肥视涯 12.0402% 股权！ 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 4 行业周报 （来源：手机报在线） 8. iPhone X 被《时代》评为 2017 年最佳发明之一 据 wccftech 报道，苹果旗舰智能手机 iPhone X 已经于 11 月 3 日上市开售，它在设计方面有很大变化，并引入了手 机行业的最新功能。虽然 iPhone X 上市还不到 1 个月，但在《时代》杂志刚刚发布的 2017 年 25 大最佳发明榜单 中，iPhone X 赫然占了一席之地。iPhone X 上市已经两周，它带来了相当多的内部和外部变化。虽然在设计方面最 显著的变化可能机身前部，但它也引入了手机行业未来几年可能流行的各种新功能。如果你是超级视网膜显示屏 （Super Retina Display）的粉丝，你可能会注意到 iPhone X 屏幕顶部的凹槽。尽管它与众不同，但也容纳了大量 传感器，包括 TrueDepth Camera 技术，该技术有助于面部识别功能。到目前为止，iPhone X 已经获得了更广泛的 好评。消费者对 iPhone X 的需求估计是巨大的，这使得它成为今年最受欢迎的智能手机之一。 （来源：OFweek 显示网） 9. 宜家推出首款 OLED 枝形吊灯 Vitsand IKEA launched its first OLED lamp, the Vitsand - a chandelier with 7 OLED panels. The Vitsand provides 700 lumens at 2700K. Each panel is about 77 lm/W (total 7W). The lamp is dimmable, and the panels unfortunately cannot be replaced. The Vitsand is now available in IKEA Europe for €199. It is great to see OLED lighting enter a retail store like IKEA, even though the price is still very high. The panels are likely made by LG Display but we are not sure. 原文链接：https://www.oled-info.com/ikea-launches-its-first-oled-lamp-7-panel-vitsand （来源：OLED-INFO） 10. LG Display 发布视频展示其 OLED 照明设备在韩国和香港的应用 LG Display published three very nice videos showcasing three new OLED lighting installations. First up is an OLED chandelier that was specifically designed for the presidential suite suite in the Landmark Mandarin Oriental Hotel in Hong Kong. The Chandelier has a unique design that uses 36 modules each with 4 OLED Panels (for a total of 144 10x10 cm panels). The project managers (TELCS Lighting Design and Consutancy) and the chandelier designer (Joyce Wang Studio) say that only OLED lighting panels provided them with the light quality and design possibilities that they wanted. 原文链接：https://www.oled-info.com/new-videos-show-latest-lg-display-oled-installations-korea-and-hong-kong （来源：OLED-INFO） 11. KGI: 苹果将于 2018 年推出两款 5.8"和 6.5"的 OLED 显示屏手机 KGI Securities analyst Ming-Chi Kuo estimates that Apple will launch three new iPhone models in 2018. Two of these will sport OLED displays, the 5.8" and 6.5" models. According to Kuo, all of Apple's iPhones in 2018 will have the same full-screen notched design used in the iPhone X. Note that the image above, produced by KGI, is just a render. Kuo sees the 5.8" iPhone (X2?) using the same resolution as the iPhone X (1125x2436, 458 PPI). The 6.5" model will actually sport a higher density (480 to 500 PPI). 原文链接：https://www.oled-info.com/kgi-apple-will-release-two-oled-iphones-2018-sized-58-and-65 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 5 行业周报 （来源：OLED-INFO） 12. HTC 推出搭载 ALOLED 显示屏的虚拟现实头盔 Vive Focus HTC's Vive Focus, announced in November 2017 in China, is a premium standalone VR headset build on HTC's Vive Wave VR open platform. The headset uses "high resolution" AMOLED displays (HTC did not release the specification yet), a snapdragon 835 CPU and 3DoF controllers. HTC did not disclose the shipping date or price of the Vive Focus, but it did say it will be launched in China first. 原文链接：https://www.oled-info.com/htc-vive-focus （来源：OLED-INFO） 13. IHS Markit 预计，2018 年柔性 AMOLED 面板的产能将比需求高出 44% IHS says that demand for flexible AMOLED displays is growing at a slower pace than expected - and also at a slower rate than its supply, and a result the supply in 2018 will be 44% lower than the demand. IHS says that flexible OLED capacity will grow 100% in 2018 (to reach 4.4 million square meters), but demand will only grow 70% (to 2.4 million square meters). IHS says that the high price of flexible OLEDs caused smartphone makers to opt for either rigid (glass-based) OLEDs or LCDs in their 2018 models. IHS estimates that the price gap between a flexible OLED and a rigid OLED on the same 6-Gen line is about 50%.
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    Week Ending: Weekly Wireless Report November 10, 2017 03, 2017 This Week’s Stories Inside This Issue: T-Mobile-Sprint Merger Would Not Have Created Value- D.Telekom CEO This Week’s Stories November 7, 2017 T-Mobile-Sprint Merger Would Not Have Created Value- Deutsche Telekom ended talks on a merger between its T-Mobile US business and Sprint Corp D.Telekom CEO because it would not have created value, CEO Tim Hoettges told staff after the deal collapsed at the Intel Inks Multiyear Deal To weekend. Become Exclusive Virtual Reality Provider For Turner's NBA Hoettges said he flew 50,000 km in seven days to try to save the deal, meeting Masayoshi Son, head Coverage of Sprint owner Softbank Corp, at his private home in Tokyo only for the two sides to decide against a deal. Disturbing Videos Reportedly Showed Up On YouTube Kids “In the end, it is always about creating value for shareholders. Our impression was that this did not work out,” Hoettges wrote in a blog post to staff that was seen by Reuters. Products & Services Microsoft Word's New 'Resume The deal would have created a business with 130 million customers - a close third behind AT&T and Assistant' Uses LinkedIn To Make Verizon. Your Resume Better Alone, T-Mobile has 70.7 million customers and although it has added more than a million subscribers T-Mobile Can Keep Nest Secure for 18 quarters in a row it will take a long time to close the gap. Online If Your WiFi Fails T-Mobile has invested more than $40 billion in the last six years to scale up its operations, but Apple Finally Releases Its Venmo without Sprint’s spectrum portfolio faces further spending as U.S.
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  • Woodside Priory Teacher Hits the Books in Africa
    September 24, 2008 ■ News of local people and events in the community. SECTION 2 A LSO INSIDE C ALENDAR 30 |R EAL ESTATE 33 |C LASSIFIEDS 40 Woodside Priory teacher hits the books in Africa Traveling to Kenya to start a girls’ school called a deeply motivating experience By Bob Bessin and of the family unit, is n my role as physics teacher at Woodside the greatest. Priory School, I have thought a lot about I am now part of a Iteaching a universe of children; not only group of teachers, started my students at the Priory. I and other teach- by Jason, from across the ers across the Bay Area are devoting ourselves Bay Area that organized to the aim of creating the first free girls’ sec- to create the Daraja Acad- ondary school in emy. We have already Kenya, the Daraja obtained an existing cam- About the author: Academy. pus in Kenya and are Bob Bessin of Los Altos has been teach- Through other working hard to begin ing physics for the last Priory teach- instruction in January. five years at Wood- ers, I met Jason Daraja means “bridge” side Priory School in Doherty, a teach- in Swahili and this school Portola Valley. Prior er in Vallejo and is about building bridg- to teaching, he was founder of the es. As one of the first an executive for high- Daraja Academy. free (including room and technology companies Jason was so pas- board) secondary schools Bob Bessin of the Woodside Priory greets primary school students at a school for squatters families in Kenya.
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  • Critical Elements for New Energy Technologies
    Critical Elements for New Energy Technologies PANEL ON PUBLIC AFFAIRS An MIT Energy Initiative Workshop Report April 29, 2010 Critical Elements for New Energy Technologies PANEL ON PUBLIC AFFAIRS An MIT Energy Initiative Workshop Report April 29, 2010 Massachusetts Institute of Technology MIT Energy Workshop on Critical Elements for New Energy Technologies | April 29, 2010 PREFACE About the Workshop on Critical Elements for New Energy Technologies On April 29th, 2010, the Massachusetts Institute of Technology’s Energy Initiative (MITEI), together with the American Physical Society’s (APS) Panel on Public Affairs (POPA) and the Materials Research Society (MRS), co-sponsored a Workshop on Critical Elements for New Energy Technologies that took place at MITEI’s headquarters at MIT. The possibility that important new technologies for the generation, transmission, storage, or use of energy might be constrained by limitations on the availability of certain elements has only recently attracted signifi cant atten- tion. The purpose of the APS/MRS/MITEI workshop was to bring together experts in the diverse areas that bear on this novel issue and to try to determine the context, scope, complexity, and fi nally, the seriousness of the problem. The workshop also served as the kickoff for an APS/MRS study of energy-critical elements that will attempt to draw conclusions and recommend policy on this subject. This report summarizes the presentations and discussions that took place at the workshop. The core of the report is a rapporteur’s overview of the information presented by keynote speakers and the participants’ comments and points of view as they emerged in extensive discussion sessions.
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  • Mobile Smart Fundamentals Mma Members Edition June 2014
    MOBILE SMART FUNDAMENTALS MMA MEMBERS EDITION JUNE 2014 messaging . advertising . apps . mcommerce www.mmaglobal.com NEW YORK • LONDON • SINGAPORE • SÃO PAULO MOBILE MARKETING ASSOCIATION JUNE 2014 REPORT The Global Board Given our continuous march toward providing marketers the tools they need to successfully leverage mobile, it’s tempting to give you another week-by-week update on our DRUMBEAT. But, as busy as that’s been, I’d like to focus my introduction for this month’s Mobile Smart Fundamentals on the recent announcement we made regarding our Global Board. Our May 6th announcement that we would be welcoming the first CMO in the MMA’s history to take up the position of Global Chairperson was significant for many reasons, not least of which is the incredible insight and leadership that John Costello brings to the role. This was also one of our first steps to truly aligning the MMA to a new marketer-first mission. Subsequently, on June 25th, we were pleased to announce the introduction, re-election and continuation of committed leaders to the MMA’s Global Board (read full press release here). But perhaps most significantly of all, we welcomed a number of new Brand marketers and that list of Brands on the Global Board now includes The Coca-Cola Company, Colgate-Palmolive, Dunkin’ Brands, General Motors, Mondelez International, Procter & Gamble, Unilever, Visa and Walmart. http://www.mmaglobal.com/about/board-of-directors/global To put this into context, the board now comprises 80% CEOs and Top 100 Marketers vs. three years ago where only 19% of the board comprised CEOs and a single marketer, with the majority being mid-level managers.
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  • Global 3D Sensors Market Analysis November 2018
    Global 3D Sensors Market Analysis November 2018 Strategic assessment of a high growth market Growing popularity of 3D-enabled devices will drive the future market growth. www.gmranalytics.com Table of Contents Executive Summary Market Analysis Highly dynamic environment Macroeconomic change affecting major applications Microeconomic landscape Market evolution Market growth drivers, market dynamics and trends Growing regulatory intervention worldwide Technologies transitioning and outlook Creating value through sustainable strategies The new frontiers of growth Industry Analysis Evolution of business models Profitability analysis Value chain mapping: Growth and value creation Megatrends and their impact Fixing the supply chain Upstream and Downstream business opportunities Effective pricing strategies Key implications and strategic recommendations for the organization leaders Technologies transitioning and outlook www.gmranalytics.com Deep dive on the global 3D sensors market 1. Market analysis by product category 1.1. Accelerometers 1.1.1. 3-axis 1.1.2. Others 1.2. Biometric sensors 1.3. Flex / Force 1.4. Gyros 1.4.1. 3-axis 1.4.2. Others 1.5. IMU 1.6. Infrared sensors 1.7. Light sensors/ Image sensors 1.8. Proximity sensors 1.9. Radiation sensors 1.10. Sound sensors 1.11. Pressure sensors 1.12. Level sensors 1.13. Load cells 1.14. Magnetic sensors 1.15. Optical sensors 1.16. Position & displacement sensors 1.17. Tachometers 1.18. Ultrasonic sensors 1.19. Multi-meters 1.20. Torque sensors 1.21. Acoustic sensors 1.22. Motion sensors 1.23. Speed sensors 1.24. Radar sensors 1.25. Others 2. Technology market analysis 2.1. Capacitive sensors 2.2.
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  • Mergers in the Digital Economy
    2020/01 DP Axel Gautier and Joe Lamesch Mergers in the digital economy CORE Voie du Roman Pays 34, L1.03.01 B-1348 Louvain-la-Neuve Tel (32 10) 47 43 04 Email: [email protected] https://uclouvain.be/en/research-institutes/ lidam/core/discussion-papers.html Mergers in the Digital Economy∗ Axel Gautier y& Joe Lamesch z January 13, 2020 Abstract Over the period 2015-2017, the five giant technologically leading firms, Google, Amazon, Facebook, Amazon and Microsoft (GAFAM) acquired 175 companies, from small start-ups to billion dollar deals. By investigating this intense M&A, this paper ambitions a better understanding of the Big Five's strategies. To do so, we identify 6 different user groups gravitating around these multi-sided companies along with each company's most important market segments. We then track their mergers and acquisitions and match them with the segments. This exercise shows that these five firms use M&A activity mostly to strengthen their core market segments but rarely to expand their activities into new ones. Furthermore, most of the acquired products are shut down post acquisition, which suggests that GAFAM mainly acquire firm’s assets (functionality, technology, talent or IP) to integrate them in their ecosystem rather than the products and users themselves. For these tech giants, therefore, acquisition appears to be a substitute for in-house R&D. Finally, from our check for possible "killer acquisitions", it appears that just a single one in our sample could potentially be qualified as such. Keywords: Mergers, GAFAM, platform, digital markets, competition policy, killer acquisition JEL Codes: D43, K21, L40, L86, G34 ∗The authors would like to thank M.
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  • Display/Electronic Materials the Age of Components and Materials
    Display/Electronic Materials The age of components and materials Favorable environment to continue in 2015 Overweight (Initiate) In 2014, panel makers thrived on the back of tight supply and demand conditions caused Initiation Report by rising demand for larger TV screens. In 2015, we believe industry conditions will remain favorable. Indeed, TV panel prices remained on a slight upward trajectory as of January 23, 2015 January 20 th . Supply and demand conditions still appear tight, though not as tight as in 2H14. We Daewoo Securities CCCo.,Co., Ltd. forecast such conditions to continue at least through 1H. The impact of Chinese [Display/IT Materials] companies’ capacity ramp-ups, scheduled to start coming online in 2H, should be limited this year. Young Ryu +822-768-4138 Robust demand for larger TVs to limit supply growth [email protected] In 2015, demand is projected to grow 6.8% YoY (based on shipment area), with LCD panel capacity rising 6.8% YoY. We anticipate largely balanced supply and demand conditions this year, and most new capacity is expected to come online starting in 2 H. Given 1) the tight supply and demand conditions in 2014 and 2) the fact that LCD production tends to increase in 2H, supply and demand in the LCD industry are likely to strike a balance heading into 2H. We foresee robust demand in 2015, aided by 1) the start of the TV replacement cycle, 2) TV manufacturers’ aggressive sales plans, 3) limited supply growth due to the shift to larger TV sizes, 4) substitute demand following the end of plasma display panel (PDP) production, and 5) continued growth in demand from emerging markets.
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  • Cesifo Working Paper No. 8056
    8056 2020 January 2020 Mergers in the Digital Economy Axel Gautier, Joe Lamesch Impressum: CESifo Working Papers ISSN 2364-1428 (electronic version) Publisher and distributor: Munich Society for the Promotion of Economic Research - CESifo GmbH The international platform of Ludwigs-Maximilians University’s Center for Economic Studies and the ifo Institute Poschingerstr. 5, 81679 Munich, Germany Telephone +49 (0)89 2180-2740, Telefax +49 (0)89 2180-17845, email [email protected] Editor: Clemens Fuest www.cesifo-group.org/wp An electronic version of the paper may be downloaded · from the SSRN website: www.SSRN.com · from the RePEc website: www.RePEc.org · from the CESifo website: www.CESifo-group.org/wp CESifo Working Paper No. 8056 Mergers in the Digital Economy Abstract Over the period 2015-2017, the five giant technologically leading firms, Google, Amazon, Facebook, Amazon and Microsoft (GAFAM) acquired 175 companies, from small start-ups to billion dollar deals. By investigating this intense M&A, this paper ambitions a better understanding of the Big Five’s strategies. To do so, we identify 6 different user groups gravitating around these multi-sided companies along with each company’s most important market segments. We then track their mergers and acquisitions and match them with the segments. This exercise shows that these five firms use M&A activity mostly to strengthen their core market segments but rarely to expand their activities into new ones. Furthermore, most of the acquired products are shut down post acquisition, which suggests that GAFAM mainly acquire firm’s assets (functionality, technology, talent or IP) to integrate them in their ecosystem rather than the products and users themselves.
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  • Mergers in the Digital Economy
    3136 REPRINT Axel Gautier, Lamesch Joé Mergers in the Digital Economy Information Economics and Policy CORE Voie du Roman Pays 34, L1.03.01 B-1348 Louvain-la-Neuve Tel (32 10) 47 43 04 Email:[email protected] https://uclouvain.be/en/research-institutes/ lidam/core/reprints.html Mergers in the Digital Economy∗ Axel Gautier y& Joe Lamesch z June 2, 2020 Abstract Over the period 2015-2017, the five giant technologically leading firms, Google, Amazon, Facebook, Apple and Microsoft (GAFAM) acquired 175 companies, from small startups to billion dollar deals. In this paper, we provide detailed information and statistics on the merger activity of the GAFAM and on the characteristics of the firms they acquire. One of the most intriguing features of these acquisitions is that, in the majority of cases, the product of the target is discontinued under its original brand name post acquisition and this is especially true for the youngest firms. There are three reasons to discontinue a product post acquisition: the product is not as successful as expected, the acquisition was not motivated by the product itself but by the target's assets or R&D effort, or by the elimination of a potential competitive threat. While our data does not enable us to screen between these explanations, the present analysis shows that most of the startups are killed in their infancy. This important phenomenon calls for tighter intervention by competition authorities in merger cases involving big techs. Keywords: Mergers, GAFAM, platform, digital markets, competition policy, killer acquisition JEL Codes: D43, K21, L40, L86, G34 ∗The authors would like to thank P.
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  • Artificial Intelligence June 2018 Artificial Intelligence June 2018 Sector Dashboard [4]
    Sectorwatch: Artificial Intelligence June 2018 Artificial Intelligence June 2018 Sector Dashboard [4] Public Basket Performance [5] Operational Metrics [7] Valuation Comparison [10] Recent Deals [13] Appendix [14] 7 Mile Advisors appreciates the opportunity to present this confidential information to the Company. This document is meant to be delivered only in conjunction with a verbal presentation, and is not authorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of the document. All data cited in this document was believed to be accurate at the time of authorship and came from publicly available sources. Neither 7 Mile Advisors nor 7M Securities make warranties or representations as to the accuracy or completeness of third-party data contained herein. This document should be treated as confidential and for the use of the intended recipient only. Please notify 7 Mile Advisors if it was distributed in error. 2 Overview 7MA provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a close knit team with a long history together and a laser focus on our target markets, we help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets. We publish our sectorwatch, a review of M&A and operational trends in the industries we focus. Dashboard Valuation Comparison • Summary metrics on the sector • Graphical, detailed comparison of valuation • Commentary on market momentum by multiples for the public basket comparing the most recent 12-month performance against the last 3-year averages.
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  • February 2013 M&A and Investment Summary
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  • Venture Capital Funding, First Quarter 2014
    Venture Capital Funding Survey, First Quarter 2014 VENTURE CAPITAL FUNDING, FIRST QUARTER 2014 This is a listing of many of the Bay Area firms that received venture capital financing between Jan. 1 and March 31, 2014. Most of the data was compiled from a survey conducted by PricewaterhouseCoopers, Thomson Venture Economics and the National Venture Capital Association in conjunction with the Mercury News. In the case of some investments there may have been other participants in the round who are not credited. Also, the amounts listed may not include all venture funding the company received during the quarter. *Indicates this is a seed or first-round infusion of money from venture capitalists. These companies may have received money previously from other investors and aren't necessarily startups. BIOTECHNOLOGY / HEALTH Name City Stage Amount Investors Description 3-V Biosciences Menlo Park Early Stage $4,749,000 Kleiner Perkins Therapeutics that modulate Caufield & Byers, pathways for the treatment of New Enterprise oncology Associates Acerta Pharma San Carlos Startup/Seed $13,000,000 Frazier Healthcare, Treatments for cancer and undisclosed firm autoimmune diseases Afferent Pharmaceuticals San Mateo Early Stage $6,300,000 Domain Associates, Clinical-stage undisclosed firm biopharmaceutical company Altura Medical Menlo Park Expansion $4,000,000 SV Life Sciences Medical devices Advisers, undisclosed firm Atara Biotherapeutics Brisbane Early Stage $13,500,000 Amgen, Domain Drug development company Associates, Duff Ackerman & Goodrich, Kleiner
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