Display giant expands into medical industry

BOE, the world’s biggest display panel maker, is expanding into the Internet of Things industry, especially in the medical industry. 

Shenzhen-listed BOE is to turn from a “display firm” to a “global IoT service provider” covering displays, sensors, AI and big data, the company said in Shanghai on Thursday.

BOE has identified the medical industry as key for its business expansion. It has invested in digital hospitals with medical displays, sensor chips and smart health-care systems. 

The medical industry is the most promising sector in China for innovations and investment, with the pandemic situation and huge volume of structured data, said Kaifu Lee, chairman and CEO of Sinovation Ventures.

Technology leaders in China, who used to focus on classified segments, are expanding into the IoT industry, which can connect and control various devices by wireless connection and creates more value. 

The Internet of Things applications work in hospitals, vehicles and smart communities, supporting applications for smart city and many AI features.

Shanghai-based chip designer Unisoc, which used to focus on telecommunication chips, has also announced expanding into IoT as its new “strategic business.”  

In the first quarter, BOE reported a net profit of 5.18 billion yuan (US$797 million), a 162.5 percent growth from a year ago. It was more than its entire net profit for 2020 of 5.04 billion yuan.

BOE is offering screen panels for Apple’s new iPhones, according to recent media reports. But the company has declined to comment on the issue.