PANEL DISPLAY MARKET SPARKS INTEREST AMONG
INVESTMENT COMMUNITY DURING USDC'S ANNUAL INVESTMENT CONFERENCE
Industry Collaboration is Key to
Furthering Industry Growth
SAN JOSE, Calif., April 2, 2003-The consensus stemming from USDC's eighth annual Display Industry Investment Conference, sponsored by Needham & Company, Inc., is that the FPD industry continues to grow at a rapid pace-making it a promising investment opportunity. In addition, key display manufacturers are learning that in order to succeed and remain competitive in this ever-changing ecosystem, business strategies must be re-evaluated and collaboration with other companies encouraged. Sixteen leading display companies, as well as members of prominent investment firms, brokerages, research houses and related financial institutions, converged in New York, N.Y. on March 17 and 18 to attend this year's conference.
Matt Medeiros, president of SonicWall, Inc. (and former CEO of Philips Components), kicked off this year's conference with a keynote address on today's display-centric world and identified what it what it will take for companies to succeed in this industry moving forward. "The opportunities for the display industry are endless. The new display technology advancements being highlighted at this forum give us a very exciting look as to what types of display-centric applications are possible, and that will bring even greater functionality and convenience to our everyday lives-along with boost this market's growth potential to new record-setting levels," noted Medeiros.
Presenting companies from throughout the global display supply chain provided the investment community with a look at the latest technology advancements, trends and business strategies associated with their respective companies. The companies generating especially significant interest among the investment community included Genesis, Pixelworks and Three-Five Systems, based on recent announcements made by these companies
This year's conference included several tutorials designed to educate the investment community on the 'ABCs' of FPDs.
During one of the highly attended tutorials, Omid Milani, director of NEC's Display Business Unit, spoke on emerging applications for LCDs-focusing on the growing demand for displays within the medical and industrial communities-which are areas that NEC will be focusing on its efforts with the creation of a new spin-off company.
"The reality of the display market is that applications are limitless. In order for FPDs to be successful in these areas, however, manufacturers need to team together-coupling their respective technology strengths to address the increasing demand for displays that address the stringent requirements such as extreme ruggedness/durability, various temperature ranges, higher resolutions, higher brightness, wider viewing angles, faster response times, backward compatible form factors-while keeping manufacturing costs down and productivity rates up," Milani noted.
Other tutorials included a presentation by Dr. M. Robert Pinnel, USDC's chief technical officer, on emerging display technologies, and a presentation by Dr. Malcolm Thompson of MJT consulting on display industry dynamics. Corning concluded the tutorials with an overview of the FPD glass market.
During the conference, Paul Semenza, executive vice president of iSuppli/Stanford Resources, presented a market analysis on the FPD industry. Semenza noted that the display component industry is currently valued at $53 billion and highlighted the key market drivers for the FPD industry to continue its growth. He cited liquid crystal displays (LCDs), cathode ray tubes (CRTs) and plasma display panels (PDPs) as the current dominant display technologies, but stated that organic light emitting diodes (OLEDs) and microdisplays will be strong players in the future
Jim Ricchiuti, an analyst at Needham & Company, Inc., noted, "Continuing demand for LCD monitors and other LCD products should drive FPD business for the foreseeable future. The emergence of new FPD markets, such as televisions, should continue to increase the appetite of investors."
The USDC sponsors summits throughout the year to gain industry consensus on impediments to the deployment of new display technologies, and to identify critical supply-chain projects that can speed product development and implementation. Its next event, the Eighth Annual Display Industry Investors Conference (co-sponsored by Needham & Co.), will be held March 17 -18, 2003, at the Grand Hyatt in New York, N.Y. More information on the conference agenda, site and registration process can be found at www.usdc.org. The Third Annual Conference on High Resolution Displays will be held in September, 2003.
For more information, please contact:
US Display Consortium
Heidi Hoffman
84 W. Santa Clara Street, Ste. 790
San Jose, CA 95113
(408) 993-8111
heidi@usdc.org
About the U.S. Display Consortium
The U.S. Display Consortium is an industry-led public/private partnership providing a common platform for flat panel display and flexible microelectronics manufacturers and developers, FPD users, and the supplier base. Headquartered in San Jose, Calif., the consortium’s primary mission is to fund supply-chain projects and share the results with USDC member companies. The USDC also provides a communication channel among industry, government and the financial communities for display issues; sponsors workshops to broaden the impact of technological developments; and educates consumers on the importance of displays in providing access to information technology. More information about the USDC can be found at www.usdc.org
About Needham & Company, Inc.
Needham & Company, Inc. is a privately held, full-service investment bank, headquartered in New York City, specializing in technology and biotechnology/life sciences, with offices also in Boston, Menlo Park and Portland. In addition to investment banking, Needham services include institutional sales and trading, asset management and venture capital. Needham & Company, Inc. also produces comprehensive equity investment research on over 300 technology and life sciences companies and regular studies on specific niche sectors within these industries. For more information, please visit our website at www.needhamco.com
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