Summary of Realfiction (7VL) Update / Briefing August 05, 2025 Company Overview - Realfiction is a pioneer in the 3D display industry, founded in February 2008, with operational headquarters in Copenhagen, Denmark, and engineering teams in Taipei, Taiwan [4][5] - The company is currently focused on its directional pixel technology (DPT), which aims to redefine multi-view and multi-user 3D displays across various applications, including home entertainment and large-scale exhibitions [6][8] Key Technology Insights - DPT allows for glasses-free 3D viewing for multiple users without sacrificing resolution, a significant improvement over traditional lenticular displays [7][8] - The technology enables "look around" 3D experiences, allowing users to view 3D objects from different perspectives simultaneously [9] - DPT supports dual view and multi-view scenarios, where different content can be displayed to different viewers on the same screen [10][11] - The technology can be integrated into various display types, including LED, micro LED, and DLP projection [46][50] Business Model - Realfiction operates on a technology licensing model, targeting large display manufacturers for revenue generation through per-unit licensing fees and upfront milestone payments [15][39] - The company collaborates with partners for technology development, including GoWorld for LCD panel manufacturing and PlayNitride for micro LED technology [21][25] Market Position and Competition - Realfiction's DPT technology is positioned against competitors like Layer Inc, Sony, and Looking Glass, which primarily use lenticular technology with limitations such as resolution loss and single-user experiences [42][44][46] - The company emphasizes its unique ability to provide multi-user 3D experiences without resolution trade-offs, which is a significant competitive advantage [45][46] Financial Outlook - Realfiction anticipates nonrecurring engineering (NRE) revenue in 2025 and 2026, with volume-based licensing revenue expected to start in late 2026 or early 2027 [93] - The initial phase of projects typically involves NRE collaboration, followed by mass production and licensing agreements [94] Challenges and Industry Dynamics - The company faces skepticism from the industry due to its innovative approach, which challenges established display technologies [63][64] - Cultural barriers exist, as the display industry is predominantly based in Asia, making it challenging for a Nordic company to gain traction [65][66] - Realfiction is actively working to bridge these gaps by enhancing its commercial presence in Asia and engaging with major manufacturers like Samsung [68][87] Future Prospects - The company is optimistic about the future of micro LED technology, which is expected to gain significant market share as manufacturing processes improve [80][82] - Realfiction's collaboration with PlayNitride has already led to the unveiling of the world's first glasses-free 3D micro LED display, generating interest from major corporations [26][27][78] Conclusion - Realfiction's DPT technology represents a revolutionary advancement in 3D display capabilities, with a scalable and cost-effective solution that aligns with ongoing developments in real-time content generation and AI [50][51] - The company is focused on expanding its patent portfolio and establishing partnerships to drive future growth and market penetration [49][50]