Jordan Wu: Okay. Can I address the second question first, automotive? I think it’s probably the most important, the one of three questions, given our exposures to automotive market. We did suffer from a few quarters of sequential decline. Bear in mind in Q1 last year we were sure suffering from shortage with our supply being short of the demand. And, but there’s a certain stop of demand, major disruption in China particularly, because there was a sudden lockdown across a big geographical area, especially for example, in , which is a local, a major center for automotive manufacturing. So a lot of our customers are stuck. They didn’t know how to react to the overall lockdown. So while we shipped a lot of ICs to them with they had solid demand in hand at that time, they were not able to produce them or ship their products because of lockdowns.
So, inevitably the second quarter ICs we shipped to our customers became their inventory. And such inventory will then be digested throughout Q3, Q4 and even up to Q1 this year. Okay? So that explains big picture wise why the automotive DDIC will suffer some decline sequentially over the last few quarters. However, our TDDI automotive, even during such period has demonstrated a very strong momentum, growing sequentially, certainly year-over-year strongly because it is a relatively new, and also it’s in hot demand relatively speaking, because they are newer products, and which are typically designed for newer models, which are, many of which are EV models. And EV models in difficult times are encouraged by the government, incentivized by the government.
So they are in better demand compared to traditional models. So, and therefore, our TDDI or few factors I mentioned still enjoyed very good momentum and growth even during this period, this time of period or this period of difficulty. We believe DDIC where we’ve done strongly from Q2 because after about three quarters of inventory digestion, I think our, throughout the ecosystem, the inventory level has been back to normal. However, whether we were — enjoyed the similar strong growth as we enjoyed over the last two years, bear in mind, in the year before we had 110% growth year-over-year, and last year, even the economy we are facing headwinds, we still enjoyed 50% automotive growth. So in DDIC this year, such similar growth will be unlikely, I think for a few reasons.
One, our market share is already close to 40%, is arguably as high as one can get. So we are — our DDIC demand is now growing pretty much in line with the market and the automotive market for a few factors, I think you know this better, are unlikely to see a major growth this year. So therefore, we don’t think our DDIC will enjoy the similar growth rates compared to last year. However our TDDI automotive will definitely continue to enjoy very strong growth with high double digits, very decent double digits year-over-year with quarter-by-quarter sequential growth and half over half sequential growth, I think very well expected. And that is because we simply enjoy very good design win pipelines. We — in my prepared remarks I talked about more than 200 projects of design wins.
Actually out of which only about 20% are currently mass production. So there is still a lot of upside, not just this year, in the next few years. And so, for last year, our automotive TDDI already accounted for about between, for about 17% of our automotive sales, pretty much industry average is single digit. So we are already 17%, and we expect by year 2025 or 2026, this number will be more than 40%. So that explains our confidence, that demonstrates our confidence that automotive TDDI will continue to enjoy very good growth going forward, not just this year, but also next few years. And on top of that, there are a few things that are very exciting, equally exciting. In our prepared remarks we talked about the timing controller, which is a feature.
We are the clear industry leader or arguably the only company providing the solution right now in the marketplace. We are — we need very good, we are getting very good project wins across the board with customers starting from premium models and now certain customers even thinking about making it more into a mainstream model. So this, I think this year it will be again, very high double-digit growth and strong growth for the next few years as well. And LTDI large display touch and driver IC integration, likewise we talked about our early mobile advantage and CES demo and the second quarter this year commencement of production ahead of the industry again. And this will be a long-term growth engine as well. And finally, OLED work in our view will continue to be a premium niche market for automotive.
But we are — we already have a few customers putting our product into mass production. We are designing a fixed, collaborating with certain leading customers for all the players. And so, I think this is long-term looking good as well. So I think with automotive business, I think our overall market share is set to further grow from the existing already very high level plus of 40% and visibility is among the strongest of all sectors. So this, I think will continue to represent our single biggest revenue contributor over the years. And for large display, I think our view for the whole year is going to enjoy the growth and Q1 versus Q4 to us is seasonality. And we have seen TV market stabilizing, price rebounding and all indications are basically saying, telling us that TV market, especially high end point of view point interface for 4K TVs, I think where we have a good presence directly in partnership with leading branded customers.
I think starting from second quarter, and so in second half this is set to enjoy growth. Monitor and notebook prospect are more questionable. I’m saying they do, we do have limited visibility, although we are starting to hear from end customers, leading end customers that there’s a good likelihood their destocking process will be coming to a conclusion probably towards the end of second quarter with hopefully the third quarter across board slowly and gradually picking up their restocking process. But again, I think we are watching the market growth especially for monitor and high monitor, where we enjoy a very good market position. But I have to say the business prospect is not very good for the time being the visibility. And micro OLED, we believe we haven’t talked about this in public and in our prepared remarks a lot, but we are actually doing a lot of work for micro OLED, but in short we are a lot more focused on offshore large display micro OLED where we are developing a total very comprehensive solutions covering display drivers, timing controller, PMIC, and others for certain strategic partners and also with various leading panel makers we are working on.
For example, ASIC timing controller designs, et cetera. But in the next year or two, this remains niche, very, very small niche market, is an emerging market only and that is why in the interest of time, we have decided not to talk about it too much. Our view on very small displays, for example, AR, VR related micro OLED application, our view is a lot more negatives for a lot of technical reasons. That is our view. So we are putting a lot less resources into them, although they are inquiries from our customers for development. But we are a lot more hesitant and conservative in that regard. So for micro OLED, our focus will be in at large displays and surely in the next few quarters, we will give people a lot more updates as our developments unfold into a more mature stage.
But our — we are not very much into small size AR, VR kind of micro OLED because we are not talking about such technologies prospect.
Jerry Su: Okay, thank you. Thank you for your answer.
