The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Martin Yang - Oppenheimer & Co., Inc. - Analyst
: Can you give us more context for the order cuts? Is it from a single customer, a multiple customer? And what are the exposures or
reasons for their cuts? Thank you.
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OCTOBER 30, 2024 / 9:00PM, OLED.OQ - Q3 2024 Universal Display Corp Earnings Call
Question: Martin Yang - Oppenheimer & Co., Inc. - Analyst
: Got it. Thank you. Can you also -- is there any more details you can share about the material gross margin in the quarter? It feels a
little light compared to previous quarters. Any more context to share with us?
Question: Martin Yang - Oppenheimer & Co., Inc. - Analyst
: Got it. That's it for me. Thank you, Brian.
Question: Scott Searle - Roth Capital Partners, LLC - Analyst
: Brian, Steve, I know this is kind of hard to quantify, but with some of the customer slowdowns, I'm wondering how far out your
visibility is as we start to think about early 2025 and seasonality into the March quarter. Do you have a good idea of what elevated
inventory levels might look like across some of the customer base? Because it seems like it's a little contradictory to what we're seeing
in some of the end markets today.
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OCTOBER 30, 2024 / 9:00PM, OLED.OQ - Q3 2024 Universal Display Corp Earnings Call
You're starting to hear more about small panels starting to recover with smartphones that have gone through inventory corrections.
Maybe less so on the TV front, but that seems to be more incremental. So I'm wondering what the early thoughts are in terms of, I'll
call it seasonality and normalizing inventory.
Question: Scott Searle - Roth Capital Partners, LLC - Analyst
: Okay, fair enough. And if I could follow up on blue, Steve. Look, we're getting closer, again, the comment months, not years. But I'm
wondering if you could calibrate the timing and what your expectations are once we get to the point of go, where we've got all the
commercial metrics for blue. How long is it into that process before we see some material sales? Does it take another 9 to 12 months
from a design standpoint for that to become material?
And I guess looking out further on the horizon, what's success two years out? Is it 20% of your customers adopting some form of
blue? And is there a timeline that you're comfortable talking about when blue could possibly get to parity with green? Thanks.
Question: Scott Searle - Roth Capital Partners, LLC - Analyst
: Got you. Fair enough. I'll get back in the queue. Thanks.
Question: Nam Kim - Arete Research - Analyst
: According to a news article in August, I think a few months ago, LG Display successfully developed all that panel using blue
phosphorescent material. I try to understand what it means. Here, does it mean your blue material meets certain customers back
and ready to ramp once they start mass production? I just try to understand what these articles mean to Universal Display. Thank
you.
Question: Nam Kim - Arete Research - Analyst
: Okay, thank you.
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