Japan Display Inc. is planning to double its automotive display sales within five years to reduce the dependency on Apple as well as other smart phone manufacturers.
The company has a hard row to hoe as for the year ending March they posted a $2.23 billion loss. The loss resulted from the slowdown in smartphone screen sales. The company is hoping to exploit the growing market for displays in cars.
New cars are coming equipped with screens as the car consumers are becoming enamored by features like navigation and entertainment screens. The demand for smart phones and tablets is weakening so the move to produce screens for autos may shore up their future sales.
Japan Display already controls 19% share of the automotive screens. Their closest competitor is South Korea’s LG Display which garners about 14.1% share.