MagnaChip reported its financial results for Q2 2016, and the company says that there is a very strong demand for AMOLED drivers. AMOLED IC revenue jumped 73% from Q2 to Q1 - and over three fold compared to Q2 2015. AMOLED IC now accounts for 65% of MagnaChip's display solutions business.

MagnaChip explains that this growth mostly comes from the "wave" of smartphone makers in China that started to adopt AMOLED displays in their mobile phones. MagnaChip's ICs were designed into 29 smartphone models, and MagnaChip believes it is the world's second largest supplier of AMLED ICs.

Earlier this year MagnaChip announced that since 2007 it has shipped over 160 million AMOLED driver ICs. Most of these ICs went to smartphones, but MagnaChip says they also shipped drivers to digital cameras and tablets. MagnaChip also shipped over 6 million OLED TV driver ICs.

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