Asia Tech Wire (July 12) -- Chinese display maker BOE Technology Group Co Ltd (000725.SZ) expects its net profit to grow about twofold in the first half of this year.

BOE said in a statement on Friday that it expects its net profit attributable to shareholders for the first half of 2024 to range from 2.1 billion yuan to 2.3 billion yuan, a year-on-year increase of 185% to 213%.

The earnings growth is mainly due to the rising boom in the semiconductor display industry and increased demand for LCD and AMOLED products, the company said.

BOE has joined Samsung Display and LG Display in supplying OLED panels for the upcoming iPhone 16 series smartphones, according to a report from South Korea's The Elec.