国泰海通：Micro LED行业“涅槃重生” 2026年起有望迈入多场景应用

Core Viewpoint - The Micro LED industry is expected to see significant advancements and market expansion starting in 2026, driven by breakthroughs in large-scale production cost reduction and the feasibility of light interconnect applications [1] Group 1: Micro LED Technology Advantages - Micro LED is referred to as the "ultimate display technology" with pixel sizes ranging from 5 to 100 micrometers, offering extreme performance, long lifespan, and remarkable energy efficiency [2] Group 2: Challenges and Setbacks - The year 2024 is described as the "darkest moment" for the Micro LED industry, particularly for Apple, which has delayed its Micro LED plans due to challenges in mass production, high costs, and supply chain issues [3] Group 3: Future Outlook and Recovery - By 2025, significant progress is anticipated in overcoming the challenges of transferring millions of micro-sized LED chips, with companies like Q-Pixel achieving over 99.9995% transfer yield [4] - The launch of Garmin's Fenix 8 Pro, the world's first Micro LED smartwatch, indicates the commercial viability of Micro LED technology in smartwatches [4] - Micro LED is positioned as a low-power light source for optical interconnects, with companies like Credo and Microsoft's research team working on advancing related technologies [4]