Emerging Display Technologies (EDT) has announced a joint venture agreement with Japanese display manufacturer Nippon Seiki to establish EDT-India, a factory dedicated to producing TFT LCD modules in India. The facility, scheduled for completion in 2026 with mass production starting in 2027, marks EDT's third overseas manufacturing base after Taiwan and China.
India currently holds the position as the world's largest two-wheeler market, with an estimated 24.9 million units in 2024, according to the IMARC Group. Forecasts project this market to grow at a compound annual growth rate (CAGR) of 15.64% through 2033, potentially reaching 92 million units. EDT anticipates that 40% to 50% of these vehicles will be installed with LCD instrument panels, underscoring the joint venture's growth potential. The company expects the robust expansion of the Indian market to become a significant source of revenue over the next five years.
EDT's diversification strategy targets medical, mobile, and industrial sectors
Beyond automotive applications, EDT is pursuing additional growth avenues in high-value-added medical solutions, combining physical buttons with rotary knobs, with several projects nearing mass production. The medical segment is expected to experience rapid growth within one to two years, contributing to revenue amplification. In mobile applications, EDT's customers plan to launch next-generation products with mass production and shipments projected between the first and second quarters of 2026. These initiatives represent a broader strategy to diversify revenue streams.
In the first half of 2025, EDT's revenue mix showed notable shifts. The share of TFT plus capacitive touch panel (CTP) products declined from 54% to 45% year-over-year, reflecting changing customer demand, while TFT display products increased their contribution from 27% to 33%. High value-added products continued to gain prominence. In terms of application markets, industrial control revenue rose from 33% to 39%, benefiting from stable, long-life-cycle product orders typical in this segment.
Medical products increased their revenue share significantly, from 17% to 29%, driven largely by attaining FDA certification, which enhances market entry barriers. Longer product life cycles in this sector also help EDT maintain gross margins amid New Taiwan Dollar currency appreciation. Conversely, smart home revenue dropped from 35% to 13% due to transition phases in customer models, though shipment volumes are expected to rebound in 2026.
Automotive revenue saw a slight increase from 7% to 8%, maintaining optimism for future growth, largely underpinning the joint venture in India. The commercial office segment improved from 3% to 5%, supported by rising shipments for domestic Tier-1 industrial computer manufacturers.
Additionally, EDT commenced shipments in the military and drone markets starting in 2024, responding to geopolitical risks. Early drone product shipments are anticipated to grow significantly by 2026.
EDT highlighted the evolving role of display technology, emphasizing integration of intelligent sensing, control cores, software architecture, and structural design to create interactive human-machine interface solutions. This shift represents a strategic focus to differentiate in the competitive market landscape.
Article translated by Jingyue Hsiao and edited by Joseph Tsai
