BOE will become Apple's new supplier of mini LED panels

Tianfeng Securities analyst Ming-Chi Kuo's latest research report pointed out that Apple will launch a new design MacBook Air around mid-2022. One of the main selling points of this new model is the use of Mini LED display, and BOE will be the new supplier of Mini LED display for MacBook Air.

Guo Mingchi believes that this order is of great significance to BOE. This is the first time that BOE has obtained a high-end order from Apple with a high unit price. In addition, it will make a significant contribution to BOE's Mini LED display design and production capabilities and help it obtain non-Apple orders. I believe the market underestimates the contribution of specification upgrades and product portfolio/capacity optimization to BOE's revenue and profits in 2H21-2022.

It is not yet certain whether the existing M1 MacBook Air will end production after the Mini LED MacBook Air goes into mass production. If the M1 MacBook Air ends production, it means that the starting price of the Mini LED MacBook Air may be the same as the current M1 MacBook Air.

If the M1 MAcBook Air does not end production, it means that the price of the M1 MacBook Air may be reduced. We believe that either scenario will help the overall shipments of MacBook Air.

Generally speaking, mini LED refers to LED chips with a size of 100~300 microns, a chip pitch between 0.1~1mm, and a micro LED device module in the form of SMD, COB or IMD packaging, which can be used in two major scenarios: direct display and backlight.

Simply put, mini LED is an upgraded innovation of LCD, designed to compete with its competing product OLED.

Compared with the main advantages of OLED such as contrast and color, mini LED backlight products are not inferior, and have the advantages of low cost, wide application, non-aging and long service life.