© melpomenem dreamstime.com Electronics Production | December 24, 2019
Konka invests millions in research institute
Chinese electronics manufacturer, Konka Group, is doubling down on its goal to lead the industry in developing and building the Micro LED market with an investment of RMB 1.5 billion (more than USD 215 million) towards research and development of the emerging technology in the from of a Semiconductor Optoelectronics Research Institute.
Konka, which recently also announced its plans to enter the North American consumer electronics market in 2020, established its Micro LED initiative as a joint venture with Chongqing Liangshan Industrial Investment Co., Ltd., for a total of RMB 2.55 billion (more than USD 365 million). The funds will be used to purchase Micro LED related machinery/equipment, research and development, and increase production and sales of Micro LED related products. This Micro LED joint venture institute that will carry out research and development of this display technology. Konka describes itself as a platform-based company with technology innovation as its core driving force. In the first half of 2019, the Group's R&D investment increased by 14.74% compared with the same period in 2018. Konka focused its innovation efforts on technologies such as 8K, AIOT and 5G, integrating next step technology into current product development. "Konka is a technology company investing in multiple growth platforms such as 8K, AIOT and 5G," said Scott Ramirez, Senior Vice President, Sales and Marketing. "This significant investment in Micro LED development shows our commitment to the technology and our belief that Micro LED will become the leading technology for ultra-high-quality consumer television."