Universal Display’s Revenue Breakdown Worldwide (2016-2022)

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This statistic highlights Universal Display’s Revenue Breakdown Worldwide, split between China, Japan, Other non-U.S locations, South Korea, and the United States, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights Universal Display’s Revenue Breakdown Worldwide, split between China, Japan, Other non-U.S locations, South Korea, and the United States, reported on a quarterly basis from Q1 2016 onwards

Universal Display’s Revenue Breakdown Worldwide

Category Q3 2020 Q2 2021 Q3 2021 Contribution  in Q2 2021
China $43.57 $36.31 $41.32 28.77%
Japan $2.28 $2.00 $1.91 1.33%
South Korea $66.67 $86.32 $95.74 66.66%
United States $3.90 $4.13 $4.11 2.86%
Other non-U.S. locations $0.66 $0.89 $0.54 0.37%
Total $117.08 $129.66 $143.62 100.00%

(All figures in millions, except percentages)

The Company attributes revenue to different geographic areas based on the location of the customer. The total revenue has been increasing every quarter. The revenue increased 10.77%, from $129.66 million in Q2 2021 to $143.62 million in Q3 2021. The year-on-year growth was 22.27% when compared to Q3 2020, where the revenue generated was $117.08 million. On a quarterly basis, the revenue grew by 10.76%, from $129.66 million in Q2 2021 to $143.62 million in Q3 2021.

Sales of emitter materials to OLED device makers account for the majority of the company’s income. Customers are often required to acquire minimum quantities of Universal Display’s materials via commercial supply agreements, which might be in the form of absolute annual minimum purchase commitments, a certain percentage of their purchase requirements, or a combination of both.

Universal Display’s revenue can be bifurcated into the following segments:

China

The second-largest consumer market of Universal Display is the Chinese region. Though the scale of revenue contributed is lower in comparison to that of South Korea, China’s revenue contribution in the latest quarter was $41.32 million which is 28.77% of that quarter’s total revenue. The revenue generated from this region fell 16.66% from $43.57 million in Q3 2020 to $36.31 million in Q2 2021. The revenue increased again by 13.80% to $41.32 million in Q3 2021. Contribution to the revenue mix also fell from 37.21% in Q3 2020 to 28.77% in Q3 2021.

Japan

The revenue generated from the Japanese region has been constantly decreasing over the quarters. The year-on-year decline was 16.23% from $2.28 million in Q3 2020 to $1.91 million in Q3 2021. The contribution to revenue mix also fell from 1.95% in Q3 2020 to 1.33% in Q3 2022.

South Korea

On breaking down the revenue based on geographic locations, South Korea is Universal Display’s largest consumer market. This region generates significantly more money than all of its other consumer markets combined. In the latest quarter, South Korea contributed a massive $95.74 million i.e. 66.66% of their total quarterly revenue. This region contributed 56.94% of the quarterly revenue in Q3 2020 by grossing a total of $66.67 million. Compared to Q2 2021, there has been a 10.91% increase in revenue earned from South Korea, which totaled $86.32 million.

United States

Revenue generated from the United States grew 5.90% from $3.90 million in Q3 2020 to $4.13 million in Q2 2021. However, the contribution to the total revenue decreased from 3.33% in Q3 2020 to 3.19% in Q2 2021. When compared to Q2 2021, the quarter-on-quarter decline was 0.48%, from $4.13 million in Q2 2021 to $4.11 million in Q3 2021. Contribution to revenue mix also fell from 3.33% in Q3 2020 to 2.86% in Q3 2021.

Other Non-U.S. Locations

Revenue generated from these locations grew 34.84% from $0.66 million in Q3 2020 to $0.89 million in Q2 2021. However, when compared to Q3 2021, the year-on-year decline was 18.18%. Contribution to revenue mix also fell from 0.57% in Q3 2020 to 0.37% in Q3 2021.

As can be seen over the years, South Korea has been the largest consumer market for Universal Display’s products while the other locations in the United States region has been the smallest contributor to total revenue.

About the Company

Universal Display is a pioneer in the development of organic light-emitting diode (OLED) technology and materials for display and solid-state lighting applications. OLEDs are light-emitting solid-state devices that can be made on both flexible and rigid substrates, making them ideal for use in full-color displays and lighting. OLED displays are gaining market share in a variety of markets, including mobile phones, televisions, wearables, tablets, notebooks, personal computers, augmented reality (AR), virtual reality (VR), portable media devices, and automobiles.

Universal Display’s primary business strategy is to develop new OLED materials and sell existing and any new materials to manufacturers of display products such as mobile phones, televisions, wearables, tablets, portable media devices, notebook computers, personal computers, and automotive applications, as well as specialty and general lighting products; and continue to develop and license proprietary OLED technologies to those manufacturers.

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