HB Solution, a manufacturer of display inspection systems, has canceled a KRW 14.5 billion ($11.2 million) contract with Samsung Display to supply inkjet printing equipment for QD-OLED TV production, the company said in a regulatory filing.
The contract, signed in November 2022, accounted for 7.7% of HB Solution’s 1.88 trillion won in revenue last year. But it represented 31% of 2021 sales, when the original deal was made. The cancellation comes as the equipment failed to meet certain client requirements, according to an HB Solution official.
HB Solution had partnered with Silicon Valley’s Kateeva to provide the QD-OLED TV printing system to Samsung Display. But delays in Samsung’s QD-OLED TV investment led HB Solution to lower expectations for sales from this contract.
The company will now focus on its self-developed edge light blocking (ELB) technology for mobile and other display applications, rather than the stalled QD-OLED TV market. It is also targeting new equipment for secondary battery and semiconductor nano-imprint processes as future growth drivers.
