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SAN JOSE, Calif., May 14, 2024 /PRNewswire/ -- At the Honors and Awards Banquet held in San Jose, California on May 13 ahead of SID Display Week 2024, Chen Yanshun, Chairman of BOE, received the David Sarnoff Industrial Achievement Prize from Paul Drzaic, Chair of the SID Honors and Awards Committee. The David Sarnoff Industrial Achievement Prize is the highest honor bestowed by the Society for Information Display (SID) to outstanding individuals in the global display industry. The award is not only a nod to Chen's remarkable contributions at the helm of BOE, but also a recognition of the rapid development of China's semiconductor display industry. Under the strong leadership of Chen Yanshun, BOE has scaled new heights by implementing the strategy of "Empower IoT by Display." Meanwhile, it has set a new paradigm of development for the Chinese and global semiconductor display industry.
Established in 2018, the David Sarnoff Industrial Achievement Award is conferred to one and only individual every year for their exceptional leadership and profound impact on the global display industry. Addressing the banquet, Chen Yanshun expressed his appreciation to the SID Honors and Awards Committee and thanked all partners for their consistent support. This achievement is a testament to everyone at BOE for their collective efforts and relentless dedication. Over the past five years, BOE has continued our innovation in display products, technologies, and applications. Based on our vision of technology fusion among displays and interconnectivity, digital transformation, and artificial intelligence, BOE has proposed the strategy of 'Empower IoT by Displays'. This is opening up vast new possibilities for our display industry, and, moreover, providing a new way of thinking for the fast-evolving information technology community.
In 2021, Chen Yanshun put forward the pioneering strategy of "Empower IoT by Display" amid the digital trends. This strategy involves integrating more functions into displays, deriving more product forms from displays, and embedding displays into more scenarios, aiming to create an ecosystem for "display as a platform" or "display as a system." The end of 2023 saw the publishing of the book titled Empower IoT by Display, which is a product of BOE's strategic management concepts and business wisdom over the past 30 years. The book elaborates on the significance of the strategy to corporate development and puts forward the "organizational strategy upgrading mode," setting the way for technology companies to navigate industry cycles and foster new growth engines in the digital age.
Chen Yanshun pointed out that SID is a great event for the global semiconductor display industry. BOE has continued to showcase the world's leading cutting-edge technologies and products at SID for many years, in order to drive technological advancement through continuous innovation. Over the years, BOE has maintained its respect for technology and dedication to innovation. The company invests 7 percent of its operating income in R&D every year, of which 1.5 percent is spent on the R&D of basic technology. It has accelerated the layout in cutting-edge technology fields like artificial intelligence and pioneered the concept of "full-scenario AI smart display." In the last five years, BOE has made great strides in every business segment. In 2023, its operating income reached RMB174.5 billion, of which income from innovative businesses exceeded RMB40 billion, accounting for about 24% of the total. By diving deeper into various IoT segments, BOE has created IoT-enabled interfaces of information interaction centered on screens in smart cockpit, smart retail, visual art, and other fields. In this way, innovative applications across multiple scenarios have been achieved, generating greater value for customers.
While persisting in technological innovation, BOE pursues sustainable development and sets the pace for the industry through constant innovation in green manufacturing and operations, green technology and products, and green supply chain', among others. BOE takes into full account the impact on resources and the environment throughout the product lifecycle, embedding green concepts in the processes of design, modules, panels, and end products. Additionally, BOE has promised to achieve carbon neutrality by 2050. Going forward, BOE will work alongside all partners to build a green and sustainable ecosystem, and uphold both technological innovation and green development to foster new quality productive forces and drive the upgrade of the industry value chain.
At the Honors and Awards Banquet, Dr. Qiu Haijun, Senior Vice President of BOE, won a SID Special Recognition Award for his outstanding achievements in the R&D of frontier OLED technology and high-performance OLED display. Dr. Chen Dongchuan, Director of TV Development, is the recipient of the Peter Brody Prize for his significant contributions to the UB Cell technology that delivers premium image quality akin to that of OLED and takes LCD technology to the next level. It is noted that BOE took home the most awards at the event, reflecting its outstanding contributions to and leadership in the global display industry.
As a global leader in IoT innovation, BOE's international influence is rapidly rising. The company now operates in 20 countries and regions and its services cover Europe, the Americas, Asia, Africa, and other parts of the world. It now has more than 5,000 ecosystem partners worldwide, with 60% of its operating income from overseas markets. The year 2024 marks the dawn of BOE's next 30 years. Upholding the strategy of "Empower IoT by Display," BOE will vigorously promote the convergence of display technology with IoT and digital technologies and continue to work with ecosystem partners to build the "Powered by BOE" innovation ecosystem and provide optimal services for global customers. By doing so, BOE will secure a leading role in promoting the healthy, sustained, and high-quality development of the global display industry.
