Major panel manufacturers compete for MicroLED

In recent years, Micro LED technology has been widely regarded by the industry as a strong competitor in the next generation of display technology due to its excellent potential in brightness, contrast, response speed, energy efficiency and lifespan. With its huge technical advantages and broad application prospects, Micro LED has become a strategic highland for major display companies to invest and accelerate their layout. A competition for technology R&D and industrialization around Micro LED is underway.

At present, panel companies including BOE, TCL Huaxing, Visionox, Shenzhen Tianma, AU Optronics, and Innolux have deployed in the Micro LED field. However, each panel manufacturer has different investment progress, scale, technical routes, and focus in the Micro LED field, showing a diversified development trend.

BOE

BOE has been in the Micro LED field for many years. Through strategic holdings of Huacan Optoelectronics and supporting the Zhuhai crystal core project, it has built a complete industrial chain capability from upstream IC design, midstream packaging to downstream applications.

At the same time, BOE is also developing RGB Mini/Micro LED direct display solutions based on COG (Chip-on-Glass) and COB (Chip-on-Board) technologies, as well as Mini LED backlight solutions. In addition, BOE also cooperated with international equipment companies to develop mass transfer technology and completed the construction of the 2.5th generation mass transfer pilot line.

On March 19, 2025, BOE Huacan Optoelectronics’ 6-inch Micro LED mass production line completed product delivery in Zhuhai. BOE Huacan Optoelectronics' Micro LED factory mainly produces Micro LED wafers and pixel devices. It is oriented to ultra-large and ultra-small size high-definition display scenarios and is used in application fields such as large-size commercial displays, AR/VR head-mounted display devices and wearable devices. When fully completed, it will achieve an annual production capacity of 24,000 Micro LED wafer sets (6-inch pieces) and 45,000kk Micro LED pixel devices.

March 1, 2025 On the 0th, BOE’s Zhuhai crystal core project (MLED direct display module production line) announced mass production. Construction will be completed within 9 months, and the production capacity will reach 10,000 square meters by the end of the year. This project collaborates with BOE Huacan Optoelectronics Base to open up the entire "chip-packaging-display" industry chain and launch high-end products such as P0.3 Micro LED.

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TCL Huaxing

In the field of Micro LED, TCL Huaxing and Sanan Optoelectronics established a joint venture company, Xinying Display, focusing on the development of transfer bonding technology for Micro LED. The joint venture mainly focuses on four major technological breakthroughs: LED chip miniaturization, luminous efficiency improvement, transfer bonding technology development, backplane material process research, and drive and compensation algorithm optimization.

In October 2024, Xinying Display Micro LED pilot line was completed and is expected to achieve small batch trial production in 2025.

It is worth noting that the Xinying Display Micro LED display technology R&D center project has received approval from the Xiamen Huli Ecological Environment Bureau as early as July 22, 2021. It initially planned to develop 1,056 G4.5 generation line Micro LED displays per year, with a total investment of 300 million yuan.

In March 2024, the project was restructured and adjusted to engage in the research and development of Micro LED displays based on G2.5 generation TFT substrates , and increased capital by 5 million yuan. This adjustment reflects TCL Huaxing's flexibility in the technology research and development process, aiming to better adapt to market demand and technology development trends.

Visionox

Visionox chose to spin off its Micro LED business. In August 2020, it jointly invested with the Chengdu State-owned Investment Platform to establish Chengdu Chenxian Optoelectronics Co., Ltd. (referred to as "Chenxian Optoelectronics"), focusing on the research, development and industrialization of Micro LED technology.

Chenxian Optoelectronics focuses on TFT-based Micro LED display technology, especially the use of LTPS (low temperature polysilicon) glass substrates. Its core technology research directions include mass transfer, high-precision repair technology, seamless splicing technology, and TFT backplane-based driving algorithms and dedicated driver ICs.

In December 2024, the first TFT-based Micro LED mass production line in mainland China, which Chenxian Optoelectronics was responsible for building, was officially lit and officially entered the mass production and shipping stage.

This project With a total investment of 3 billion yuan, the production line uses a large number of independently designed and multiple "first sets" of domestic Micro LED mass production equipment, and includes a full-process automated intelligent production line for transfer process, backplane process and module process.

Shentianma

Shentianma has been developing Micro LED technology since 2017 and has established a dedicated Micro LED Research Institute in Xiamen.

Based on its advantages in the panel industry, Shentianma is developing related Micro LED applications through the glass-based LTPS technology route. Shentianma's development layout for Micro LED technology mainly includes PID (Public Information Display), vehicle-mounted display, transparent display, wearable, AR, etc. Among them, PID, vehicle-mounted display and transparent display are Shenzhen Tianma’s key focus directions.

In December 2024, Shentianma invested 1.1 billion yuan to build the G3.5 generation Micro LED production The line successfully realized the smooth connection of the entire process. This production line is a full-process Micro LED production line covering mass transfer to final display module manufacturing. The highlight is that during the construction process, Shenzhen Tianma cooperated with upstream and downstream enterprises in the supply chain to jointly develop more than 30 key mass production equipment and materials, achieving the integration of production lines driven by independent core technologies.

This production line uses LTPS TFT glass substrates and advanced all-laser mass transfer technology to produce Micro LED display products with no size restrictions and frameless splicing, providing a highly innovative solution for the next generation of smart cockpit vehicle displays.

AU Optronics

In the field of Micro LED, AU Optronics cooperates with Ennostar, a key component manufacturer in which it holds shares. Fucai provides Micro LED chips, while AU Optronics focuses on subsequent mass transfer, inspection, repair, and module and display manufacturing, forming a vertical integration advantage.

AU Optronics has invested in R&D on key Micro LED processes, especially mass transfer technology, and developed its own solutions to improve production efficiency and yield. Following the successful mass production of Micro LED watch panels at the end of 2023, AU Optronics is actively promoting larger-scale industrialization.

Currently, AU Optronics is building the world’s highest generation The 4.5th generation Micro LED production line is planned to be put into mass production in 2025.

This new production line can not only handle larger-sized backplanes, but the key Micro LED mass transfer process will also be transferred here. AU Optronics plans to use this advanced production line to produce diversified Micro LED products including smart watches, large-size TVs, transparent displays, and automotive displays. It is expected that in 2026, AU Optronics will launch the first batch of Micro LED automotive display products based on its 4.5-generation line.

Innolux

Innolux’s recent move in the Micro LED field is the establishment of a specialized company, Advanced MicroLux, which focuses on the research, development and manufacturing of Micro LED technology. The new company has a registered capital of NT$150 million and will be established at Innolux’s T3 factory in Zhunan. Currently, T3 factory is Innolux’s main research and development base for Micro LED.

Innolux's Micro LED R&D focuses on AM (Active Matrix) driven Micro LED display technology, with its own LTPS backplane driver technology as the core. At the same time, Innolux is also independently developing key technologies, including color conversion technology, selective mass transfer and repair technology, seamless splicing technology, and direct patterning technology.

At present, Innolux's Micro LED technology has been applied in car displays and large-size TVs, and is negotiating mass production plans with customers; the company plans to start producing Micro LED products on the 3.5-generation low-temperature polysilicon (LTPS) production line, and plans to expand production capacity to the higher-generation 6-generation line in the future.

Conclusion

According to the latest research from TrendForce, the output value of Micro LED chips is estimated to reach approximately US$27.9 million in 2024, with the main source of contribution still being large displays. Looking forward, Micro LED chip output value is expected to grow to US$740 million in 2029, The compound growth rate from 4 to 2029 will reach 93%.

With the continued investment and strategic layout of many panel manufacturers such as BOE, TCL CSOT, Visionox, Tianma, AUO, and Innolux, as well as LED industry chain manufacturers, Micro LED technology is accelerating towards maturity, and production costs are gradually declining.

Micro LED is expected to accelerate the large-scale application in many fields, from consumer electronics (such as high-end TVs, wearable devices) to commercial displays (such as large splicing screens, control room screens), to vehicle displays and emerging transparent displays, AR/VR, etc., thus reshaping the pattern of the entire display industry.