South Korean display device manufacturer LIS announced that the company has signed a KRW17.1 billion, which is about CNY100 million, OLED device supply contract with Chengdu BOE.

According to the announcement of LIS, the contract was signed on February 13, 2019 and its valid period is from February 13 to March 4, 2019. It is also said that the signing party is Chengdu BOE Optoelectronics Technology Co., Ltd. and the contract value is about KRW17.1 billion, accounting for 18.63% of the annual sales of LIS.

LIS supplies PI laser cutter used in flexible OLED process. The company hopes to seize opportunities to grow as Chinese panel makers investing in OLED.

The company said that the contract with BOE means a new round of investment has started. With excellent technical strength and long-term cooperation relationship with customers, the company is expecting more orders.