LIS has posted 6.8 billion won in operating profits and 74.9 billion in sales in the second quarter of 2020, the company said.
It is a rise of 102% and 89%, respectively, year over year. The OLED equipment maker, for the first half of 2020, has secured 11.2 billion won in operating profits and 127.6 billion won in sales. This is a rise of 156% and 104%, respectively, from the same time period a year ago.
The rise in profits was thanks to orders from Chinese display makers, the copmany said. The company last month clinched a 31.5 billion won deal with CSOT. In April, it signed a supply deal with Tianma for 13.9 billion won. In May, it signed a 48 billion won supply deal with BOE.
Sales of face masks such as KF94 was also included in the second quarter earnings.
The Chinese government was using the OLED display sector to boost its economy following the COVID-19 pandemic and will continue to invest in the industry, a LIS spokesperson said.