The Konka Group reported that it has increase an investment of RMB 1.5 billion (US$ 213.8 million) for Micro LED R&D and is entering the consumer electronics market in North America in 2020.

(Image: Konga)

Konka launched its Micro LED TV, named “Smart Wall,” in order to compete with Samsung’s “The Wall” Micro LED display. The Chinese company also formed a joint venture with Chongqing Liangshan Industrial Investment as its Micro LED initiative. The joint venture will invest a total of RMB 2.55 billion (US$ 363.5 million) to buy Micro LED related equipment for research and development, as well as to increase production and sales of Micro LED related products.

Konka believes that the joint venture will bring the company a step towards the leading position to change the consumer electronics market with Micro LED technology. It is also showcasing its Micro LED products at CES 2020. 

Micro LED technology can be utilized in a range of advanced commercial and consumer display devices, and will become an important component of high-quality consumer TV in the near future. As a self-luminous display technology, Micro LEDs do not require a backlight. They are superior in contrast to LCDs, have higher brightness than OLEDs and a longer lifetime. According to LEDinside research data, the market sales of Micro LED are expected to reach $694 million in 2022 and achieve $2.9 billion in 2025.