Automotive Lighting: Technology, Industry, and Market Trends - 2016 Report by Yole Developpement

From Technologies to Market
SAMPLE
Automotive
Lighting
Technology, Industry,
and MarketTrends
2016 Report

2
• Executive Summary P12
• Automotive Market Trends P41
• Status of the market
• Automotive and GDP
• 2005 - 2015 vehicle sales
• Overview
• Geographical breakdown
• Vehicle type breakdown
• Top 10 automotive manufacturers and associated brands
• Growth drivers
• Macrotrends
• Introduction
• Vehicle electrification (drivers and deterrents, status…)
• Advanced Driver Assistance Systems (ADAS) (drivers and deterrents,
status…)
• Automotive industry and supply - Undergoing transformation
o Light Sources and Associated Functions/Applications P61
• History of light sources
• Overview of light sources
• Halogen
• Xenon/HID
• LED
• Laser
• OLED
• Light source vs. lighting functions/applications
• Conclusion
• Automotive Lighting Market P72
• 2015 automotive lighting market status
• 2015 revenue - Breakdown by application
• 2015 revenue - Breakdown by supplier
• 2015 revenue - Breakdown by region of sale and headquarter location
• 2015-2021 automotive lighting market forecast
• Market revenue forecast
• 2015 vs. 2021 comparison - Breakdown by application
• Focus on interior lighting
• Focus on exterior lighting
• In-depth analysis of headlamp market
• Introduction - Low-level functions vs. high-level functions
• Headlamp system
• Segmentation
• Penetration rate by technology (degree 1)
• LED headlamp system
• Key milestones
• Status
• Penetration rate by system type (degree 2)
• Penetration rate by system type (degree 3)
• Summary of technology trends
• Market size
• Highlights
• Headlamp - Split by technology type
• LED headlamp - Split by system type
• Advanced Front Lighting System (AFLS)
• Introduction
• Penetration rate by system type (LED only)
TABLE OF CONTENTS (1/4)
©2016 | www.yole.fr | Automotive Lighting 2016 - Sample

3
• Automotive Lighting Industry P97
• Analysis of Tier-1 competitive landscape
• Market share - 2014 vs. 2015
• Supplier ranking per region (Asia, Europe, North America)
• 2013-2015 revenue trends for top 15 suppliers
• 2015 market share vs. 2014-2015 revenue growth
• Emerging suppliers
• Trends
• Company profiles
• Koito (JP)
• Magneti Marelli (IT)
• Valeo (FR)
• HELLA (DE)
• Stanley (JP)
• ZKW (AT)
• SL Corporation (KR)
• Varroc Lighting Systems (IN)
• Depo Auto Parts Ind. (TW)
• Ichikoh (JP)
• TYC Brother Ind. (TW)
• Grupo Antolin (SP)
• Olsa SpA (IT)
• Insights on the Chinese automotive lighting industry
• Main Chinese automotive players
• Key groups, joint ventures, and sub-brands
• Different business models for local supply chain
• Chinese automotive lighting industry
• Chinese market - Market shares
• Chinese industry (main player revenues, capacity, new entrants..)
• LED for Automotive Lighting P149
• Introduction
• History of LED integration
• Drivers for LED integration
• Challenges for LED integration
• Packaged LED classification and applications
• LED device suppliers
• Listing/Mapping per lighting function
• Leaders, followers and emerging players
• Cost aspects
• Trends
• OLED Panel for Automotive Lighting P163
• Drivers and potential applications
• Challenges for OLED integration
• Technology aspects
• Market and industry aspects
• Recent developments
• OLED rear lamp prototypes from HELLA, Osram, and Stanley Electric
• BMW - From prototype to production (M4 GTS)
• Future trends - from 2D OLED to 3D OLED
• Breakthrough design possibilities
• Focus on R2D2 project
• Manufacturing cost
• Introduction
• Industrial roadmaps
• How to decrease it?
• Conclusion

4
• Laser Diode for Automotive Lighting P179
• Introduction and history
• Technology aspects
• The BMW i8 laser headlamp
• The Audi R8 laser headlamp
• Luminance aspects
• Laser vs. LED
• Conclusion
• Interior/Ambient Lighting P188
• LED benefits
• Key milestones
• Functions/uses
• Introduction
• Enhanced communication
• Safety
• Physical & electrical system integration
• Different ways to highlight the interior
• LEDs
• Light guides
• OLEDs and luminous textiles
• Integration model
• Partnership required for success
• Mood Lighting - Impact of colored light
• Trends
• Conclusion
• Exterior Lighting P204
• Introduction
• Small lamps
• Milestones
• Product overview
• Turn indicator in side-view mirror
• Front combination lamps
• CHMSL
• License plate lamps
• Rear Combination Lamps (RCL)
• Milestones
• Technical accentuation
• Latest developments (excluding OLED)
• Front Lighting
• Bi-functional headlamp systems
• Headlamp system typologies
• Automotive lighting functions
• Safety aspects
• Impact on energy consumption
• History of LED DRL and headlamp adoption
• Full LED headlamps - Timeline per manufacturer
• Roadmap - Progression of LED, OLED, and laser technologies
• LED headlamp - From luxury to economy cars

5
• Advanced Front Lighting Systems P231
• Overview
• Headlamp leveling
• Static bend lighting
• Dynamic bend lighting
• Non camera-based adaptive front lighting
• Camera-based adaptive front lighting
• Automatic high beams
• Adaptive cut-off line
• Vertical cut-off line
• Glare-free lighting
• Emerging technologies
• Matrix LED
• Systems from HELLA and other suppliers
• New functionalities
• Fully adaptive headlamp system
• System architecture
• Sensing (overview of technology, focus on CMOS image
sensor…)
• Focus on CMOS image sensors
• Roadmap for (front) ADAS cameras
• High-resolution headlamps
• DMD and SLM technologies
• Matrix laser headlamps
• What’s next?
• Targeted illumination
• Eye-tracking adaptive lighting
• AFLS and safety aspects
• Conclusions P267

6
THIS OBJECTIVE OFTHIS REPORT ISTO PROVIDE A COMPREHENSIVE OVERVIEW OF ALL ASPECTS OF
AUTOMOTIVE LIGHTING!
Deep insight into various Automotive Lighting technology and system approaches and their comparison
(LED / OLED / Laser (…) - DRL / Headlamp / Interior Lighting (…) - AFLS (…))
&
Analysis of industry, technology roadmaps and market metrics.
The objectives of this report are:
• To analyze the automotive lighting market / applications’ current status and future trends!
• To review the automotive lighting industry structure and future trends!
• To discuss the main technologies used for automotive lighting, and associated roadmaps!
• To examine the main lighting systems used for automotive applications, and associated roadmaps!
• To provide market insights (2013 - 2021) for automotive lighting applications!
OBJECTIVES OFTHE REPORT

7
Pars MUKISH (Business Unit Manager - Sapphire, LED / OLED, Display and Lighting Systems -Yole Développement)
• Pars MUKISH holds a master’s degree in Materials Science & Polymers from ITECH in France and a master’s degree in Innovation &
Technology Management from EM Lyon, also in France. He works at Yole Développement, the "More than Moore" market research
and strategy consulting company, as Senior Market and Technology Analyst in the fields of LED, OLED, Lighting Technologies and
Compound Semiconductors, carrying out technical, economic and marketing analyses. In 2015, Pars has also taken on responsibility
for developing Sapphire, LED / OLED and display / lighting activities as Business Unit Manager.
• Previously, he worked as Marketing Analyst andTechno-Economic Analyst for several years at the French Research Center CEA.
Pierrick BOULAY (Market &Technology Analyst - LED / OLED and Lighting Systems -Yole Développement)
• Pierrick BOULAY works as a Market and Technology Analyst in the fields of LED, OLED and Lighting Systems, carrying out technical,
economic and marketing analysis at Yole Développement, the "More than Moore" market research and strategy consulting company.
He has experience in both LED lighting, including general and automotive lighting, and OLED lighting.
• In the past, he mostly worked in R&D departments for LED lighting applications. Pierrick holds a master’s degree in Electronics from
ESEO in France.
EricVIREY (Market &Technology Analyst - Sapphire, LED / OLED and Display Systems -Yole Développement)
• EricVIREY holds a Ph-D in Optoelectronics from the National Polytechnic Institute of Grenoble (INPG - France).
• He works as Market and Technology Analyst in the fields of Sapphire, LED / OLED and Display technologies.
• In the last 12 years, he has held various R&D, engineering, manufacturing and marketing positions with Saint-Gobain. Most recently, he
was Market Manager at Saint-Gobain Crystals, in charge of Sapphire and Optoelectronic products.
AUTHORS OFTHE REPORT

8
AUTOMOTIVE INDUSTRY & SUPPLY UNDERGOING TRANSFORMATION
• The automotive industry as we know it today has evolved organically from that pioneered by Henri Ford and its
mass production philosophy. But in the last few years electronic, optoelectronics, software and various digital
technologies along with societal changes are increasingly pressuring automotive makers in
transforming its offering and business models faster than ever before.
Automotive
OEMs will
remain focused
on core
automotive
competencies
but have to
develop new
ones.
Car MakerTraditional Skills 
Styling & Powertrains
Emerging New Requirements  Batteries,
Electronics, Optoelectronics, Software (…)
Illustration:
Analog Devices
BMW
Illustration: Style, safety, reliability and energy efficiency requirements driven by consumers and increasingly demanding regulatory standards demand
remains the key priority for vehicle manufacturers. This translate into a constant focus on their core competencies such as power train and structures.
But OEMs also have to develop and implement increasingly complex electronic, optoelectronic, software and communication systems. Most will
collaborate with new suppliers and industries.

9
Harsh environment:
• Automotive applications = high electrostatic discharges, stringent quality requirements and
testing (temperature cycling, stress tests…)
Beam shaping:
• Stringent beam shaping requirements for front lamp applications require advanced optics
design.
XX:
• XX.
Electrical management (driver):
• To create an efficient drive circuit, several issues need to be considered and a driver that
supports variable input and output voltage is necessary.
XX:
• XX.
LED reliability and performance:
• OEMs require no perceived drift nor drop in performance with age / time.
Obsolescence:
• LED technology lifecycle is much shorter than those applying to automotive products  So
is there a strong incentive for LED manufacturers to maintain obsolete technologies just to
support a small market?
Main Challenges for LED Integration (1/2)
LED FOR AUTOMOTIVE LIGHTING
Cadillac Escalade SUV Headlamp Module
Source: Hella
Audi R8 headlamp with
54 LEDs from Osram
and Lumileds
Source: Osram and
Lumileds

10
Design aspects
represent the
main driver for
OLED
integration into
automotive
lighting.
Drivers & Potential Applications
OLED FOR AUTOMOTIVE LIGHTING
• Main drivers of OLEDs integration are:
• Design flexibility (color rendering, size, thickness, weight, form
factor…).
• Major driver for integration of OLEDs in Automotive
Lighting.
• Represents the main factor of differentiation with LED
technology.
• Long lifetime.
• High efficiency/Low energy consumption.
• Fast response (enhanced safety).
• Health friendly/Eco friendly.
XX
Low and high beam
light
Day Running Light
(DRL)
XX
Turn indicator
(front)
XX Side marker
XX
XX
Turn indicator
XX
Reversing light
Interior light (ambiance light, dome light, map light)
Advanced front
lights (dynamic
light…)
Rear light
• OLED is suitable for only some applications in Automotive Lighting:
LEGEND
Highly accessible
Can be accessible
Not accessible
NOTE: Due to the fact that OLED are not point source (but diffuse source), OLED should
never access applications such as Daytime Running Light (DRL), low bean light.
Potential application for OLED in
Automotive Lighting
Illustration: www.drivingfuture.com
April 2016

11
The laser
headlight of the
BMW i8 is
more efficient
and compact
and offers
higher
luminance than
LED systems.
The BMW i8 Laser Headlamp
LASER FOR AUTOMOTIVE LIGHTING
• Laser sources combine the excellent light performance of xenon headlamps with the design possibilities offered by
LED technology. Compared to typical LEDs, the luminance (measure of the luminous intensity of an illuminating surface) is ten
times stronger (x10), which increases the efficiency of the optical system and reduces energy consumption.
• The BMW i8 launched in the fall of 2014 was the first commercial vehicle featuring laser high beams with a range up to 600m.
• The low beam function is provided by LEDs.
600m300m
LED low-beam LED high-beam
LED high-beam combined with the laser-
based spot (laser booster)

12
Light is
integrated into
overheads and
cockpits
creating a
customable
environment.
Functions / Uses
INTERIOR / AMBIENT LIGHTING
LEDs in interior / ambient lighting are used for mood lighting, and to enhance driving experience!
Interior / Ambient lighting is directly controlled by the infotainment system!
Source: Grupo Antolin
Source: Hella - BMW X5Source: Hella - BMW X5

13
HEADLAMP SYSTEMS TYPOLOGIES
Multiple types
of headlamp
combining
different
sources are
available.
Single-
Type Light
Source
System
TYPOLOGYOFSYSTEM
Multi-Type
Light
Source
System
Full
Halogen
Full LED
Hybrid
“Halogen
/ Xenon”
XX
XX
Hybrid
“LED /
Laser”
Halogen used for all light
functions
LED used for all light
functions
Xenon used for low
beam and / or continuous
high beam light
XX
XX
Laser used for
continuous high beam
light
Basic system - Limited to low grade
segments
Advanced system - Previously limited
to high grade segments but now
starting to spread over middle grade
segments
Advanced system compared to “Full
halogen” with increased performance
for low and high beam lighting
XX
XX
Advanced system compared to “Full
LED” with increased design
possibilities, performance and
functionalities for high beam lighting
HEADLAMP SYSTEM DETAILS
Established
Technology
Emerging
Technology
Established
Technology
XX
XX
Technology
Under
Development
STATUS

14
AUTOMOTIVE LIGHTING FUNCTIONS
The adoption of
LED and laser
light sources
allowed new
design styling
and more
complex lighting
functions.
XX
Automotive Lighting Functions
Stops/Mechanics
XX
Discr. Matrix-Systems
Progr. Light-Source
Electric Light-Source
Technology
- XX
- XX
- Adaptive front-lighting system
- XX
- More Lumen Flux
- Luminous flux / Visibility range
- XX
Electronic control of luminous
flux
- Multiple optical modules
- Freedom of styling
XX
High -power display
Pointlike Light-Source
- XX
- Styling Freedom (Package)
Source: Yole/BMW

15
ADVANCED FRONT LIGHTING SYSTEMS - STATIC BEND LIGHTING
• Static bend lighting consists in activating cornering complementary lights in intersections, narrow corners, entry
gateways etc...
• This additional beam can cover angles up to 90° from the axis of the vehicle, lighting crossing areas etc…
• The activation is accomplished by operating a winker or as a function of the speed or steering of the vehicle.
Static bend
lighting provides
an additional
corner beam in
certain driving
situations.
Illustration of Static Bend Lighting
Source: Hella

16
TOWARD GLARE FREE LIGHTING
• Glare Free Lighting also represents an enhancement of Automatic High Beam (AHB) system.
• The function can be realized by installing a special sheath on the rotating cylinder in the projection module.
• Based on image processing functions and intelligent settings in the projection module, critical areas of oncoming
traffic that might face glare are removed from the high beam distribution, but the rest of the high beam field remains
intact for the driver’s convenience,
• However new technologies are being developed to increase functionalities of such system: Matrix LED and Digital
Mirror Device.
AFLS can
include one or
more of the
functions
described in this
section.
Automatic High Beam Adaptive Front Lighting Glare Free Lighting
Automatic switching between low and high beam
Adjustment of lighting beams
Masking of some specific
lighting area
LIGHTING
FUNCTIONS
SYSTEMS
Increasing complexity of the system (light source / module, camera,sensors, software…)

17
FULLY ADAPTIVE HEADLAMP SYSTEM - SYSTEM ARCHITECTURE
In this kind of
architecture, it
is compulsory
to have a match
between the
camera and the
software for
image
processing.
(Stereo)
Caméra
Steering
Wheel-Angle
Vehicule
Speed
XX
LIDAR
XX
Yaw-Rate
XX
Light Sensor
XX
Sensor Fusion
XX
Compute
Optimal light
distribution
XX
Actuation of
Light Module
SENSING ACTUATIONPROCESSING
Source: Yole/Nvidia

18
AUTOMOTIVE TECHNOLOGY TREND
Technology roadmap for (front) ADAS cameras
Probably two
different
markets for
camera in
automotive.
Technology roadmap for (front) ADAS cameras
Source: Sensors and Data Management for Autonomous Vehicles Report
Yole Développement (August 2015)
For Display and Assist
camera roadmap
Price depreciation will
be compensated by
volume
$30
$20
$10
2010 2015 2020 2025 2030 2035
1-X Cameras
per car
~$XX to $XX
X-X
Cameras
per car
~$XXto $XX
10+
Cameras
per car
~$200
30x30mm²
10x10mm²
20x20mm²
Forward cameras
for ADAS
technology drive will
keep the price high
1-X Cameras
per car
~$XX
~$10B
market
XXM to XXM
cameras
~$20B
market
1B+ cameras
Module size
& cost

19
GLOBAL TRENDS - 2014VS. 2015
Revenue in
automotive
lighting systems
increased
+XX% in 2015
thanks to
volume growth
and improved
product mix.
[1] Excludes replacement bulbs
[2] Adjusted to reflectValeo’s 31.6% ownership.
[3] Flex-N-Gate (US), J.W.Speaker (US), Sammoon (CN), Niken (TW), Sirius LightTechnology (TW), Reliable Auto Parts (TW), Eagle Eyes (TW), LasterTech (TW) etc…
• Revenue for automotive lighting systems[1] increased XX%, from US$XX billion in 2014 to US$ 22.4 billion in 2015.
• This growth is to compare to a more moderate 1.2% growth in vehicle production during the same period (from
89.7 to 90.8 millions units).
• Growth in lighting systems was driven mostly by:
• Higher lighting system content per vehicle driven by increasingly stringent safety regulations in multiple countries.
• More favorable product mix driven by the strong adoption of Xenon and LED headlamps and high added value of Advanced
Front Lighting Systems, a trend consistent with the record sales figures announced by most premium car manufacturers.
• Strong aftermarket.
[2] [3]

20
• Due to sufficient performance for low and high beam, and lower cost, halogen should remain the major technology for
headlamp by 2021.
• LED technology has already started to replace halogen bulbs in most of the vehicle segments and represent XX% in 2016. LED
technology should represent XX% by 2021 with cost decrease and implementation of novel functionalities (Advanced Front
Lighting Systems).
• Regarding xenon (HID) technology, penetration rate will slowly decrease and remain stable by 2021. This is due to cost
decrease of LED technology and enhanced possibilities of design with LEDs.
• Nowadays,Tiers-1 do not have or have low developments with xenon technology.
Penetration Rate by Technology
HEADLAMP SYSTEM MARKET

21
SUPPLIER RANKING PER MARKET (ASIA, EUROPE, NORTH AMERICA)
• There are no strong automotive lighting maker headquarter in the US, Canada or Mexico (where an
increasing volume of the vehicles bound for the North American market are manufactured).
• The few local manufacturers such as XX or Flex-N-Gate are small in scale compared to European, Japanese and
Korean giants and mostly address the aftermarket or niche vehicle markets with high added value products (e.g.: .
2015 Ford F-150 truck full LED headlamp by Fle-N-Gate).
• The North American market is split equally between European (XX%) and Japanese (XX%) companies. Korean
maker SL Corp has a market share of XX% thanks to an increasing presence at General Motor as well as the local
branch of Hyundai.The balance is owned by XX and XX.
There is no
strong local
manufacturer in
North America.

22
COMPANY PROFILE: STANLEY (JP)
CalendarYear Revenue (Local Currency – Millions):
2014 2015
Evolution
%
Total
Revenue
¥ 348,853 ¥ 401,014 +15%
Automotive
Lighting
¥ XX ¥ XX +XX%
Employees:
2015
Total 15,234
R&D NA
Major Customers / Design wins:
Revenue Breakdown
Asia Pacific XX%
North America 23%
Europe XX%
ROW 3%
Global Market Share XX%
2014 Estimated Lighting Revenue Breakdown
Brand Group Model
Mitsubishi Mitsubishi i-MiEV
Honda Honda Accord
Acura Honda RLX,TSX
Mazda Mazda Demio13
Mitsubishi i-MiEV
Mazda Demio 13

23
COMPANY PROFILE: STANLEY (JP)
• Stanley was established in 1920. The company developed strong relationship with Honda from the mid 1950’s. In
2002 it created a joint venture with Hella in Australia.
• Stanley also granted a royalty-based agreement on certain lighting products to XX and owns a X% stake in the
Korean equipment maker. SL Corp also has various JV with XX.
• Stanley Automotive Equipment segment provide Headlamps, RCL, High Mount Stop, Fog Lamps + Bulbs (Automotive
bulbs, LED Bulbs, HID related products) for both for 4 wheel and 2 wheel vehicles.
• Stanley was an early adopter and developed the first LED-based CHMSL lamp in 1986. The company signed a
licensing agreement with Nichia giving Stanley access to white LED technology. In exchange, the company sources
chips from Nichia that it packages internally.
Full LED Headlamp
Direct ProjectionType
Full LED Headlamp
Projection type
XX
2012 XX 2013
• Acura RLX • XX
• XX
• XX
Proprietary LEDs from Stanley Reflector type is Stanley’s low cost solution for
offering XX on entry level vehicles.

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by any duly authorized person representing the Buyer. For
these purposes, the Buyer accepts these conditions of sales
when signing the purchase order which mentions “I hereby
accept Yole’s Terms and Conditions of Sale”. This results in
acceptance by the Buyer.
1.3 Orders are deemed to be accepted only upon written
acceptance and confirmation by the Seller, within [7 days] from
the date of order, to be sent either by email or to the Buyer’s
address. In the absence of any confirmation in writing, orders
shall be deemed to have been accepted.
2. MAILING OF THE PRODUCTS
2.1 Products are sent by email to the Buyer:
• within [1]
month from the order for Products already
released; or
• within a reasonable time for Products ordered prior to
their effective release. In this case, the Seller shall use its best
endeavours to inform the Buyer of an indicative release date
and the evolution of the work in progress.
2.2 Some weeks prior to the release date the Seller can propose
a pre-release discount to the Buyer
The Seller shall by no means be responsible for any delay in
respect of article 2.2 above, and including incases where a
new event or access to new contradictory information would
require for the analyst extra time to compute or compare
the data in order to enable the Seller to deliver a high quality
Products.
2.3 The mailing of the Product will occur only upon payment
by the Buyer, in accordance with the conditions contained
in article 3.
2.4. The mailing is operated through electronic means either by
email via the sales department or automatically online via an
email/password. If the Product’s electronic delivery format
is defective, the Seller undertakes to replace it at no charge
to the Buyer provided that it is informed of the defective
formatting within 90 days from the date of the original
download or receipt of the Product.
2.5 The person receiving the Products on behalf of the Buyer
shall immediately verify the quality of the Products and their
conformity to the order. Any claim for apparent defects or
for non-conformity shall be sent in writing to the Seller within
8 days of receipt of the Products. For this purpose, the Buyer
agrees to produce sufficient evidence of such defects. .
2.6 No return of Products shall be accepted without prior
information to the Seller, even in case of delayed delivery.
Any Product returned to the Seller without providing prior
information to the Seller as required under article 2.5 shall
remain at the Buyer’s risk.
3. PRICE, INVOICING AND PAYMENT
3.1 Prices are given in the orders corresponding to each Product
sold on a unit basis or corresponding to annual subscriptions.
They are expressed to be inclusive of all taxes. The prices
may be reevaluated from time to time. The effective price is
deemed to be the one applicable at the time of the order.
3.2 Yole may offer a pre release discount for the companies willing
to acquire in the future the specific report and agreeing on the
fact that the report may be release later than the anticipated
release date. In exchange to this uncertainty, the company will
get a discount that can vary from 15% to 10%.
3.3 Payments due by the Buyer shall be sent by cheque payable to
Yole Développement, credit card or by electronic transfer to
the following account:
HSBC, 1 place de la Bourse 69002 Lyon France
Bank code: 30056
Branch code: 00170
Account n°: 0170 200 1565 87
BIC or SWIFT code: CCFRFRPP
IBAN: FR76 3005 6001 7001 7020 0156 587
To ensure the payments, the Seller reserves the right to request
down payments from the Buyer. In this case, the need of down
payments will be mentioned on the order.
3.4 Payment is due by the Buyer to the Seller within 30 days
from invoice date, except in the case of a particular written
agreement. If the Buyer fails to pay within this time and fails
to contact the Seller, the latter shall be entitled to invoice
interest in arrears based on the annual rate Refi of the «BCE»
+ 7 points, in accordance with article L. 441-6 of the French
Commercial Code. Our publications (report, database, tool...)
are delivered only after reception of the payment.
3.5 In the event of termination of the contract, or of misconduct,
during the contract, the Seller will have the right to invoice
at the stage in progress, and to take legal action for damages.
4. LIABILITIES
4.1 The Buyer or any other individual or legal person acting on
its behalf, being a business user buying the Products for its
business activities, shall be solely responsible for choosing the
Products and for the use and interpretations he makes of the
documents it purchases, of the results he obtains, and of the
advice and acts it deduces thereof.
4.2 The Seller shall only be liable for (i) direct and (ii) foreseeable
pecuniary loss, caused by the Products or arising from a
material breach of this agreement
4.3 In no event shall the Seller be liable for:
a) damages of any kind, including without limitation, incidental
or consequential damages (including, but not limited to,
damages for loss of profits, business interruption and loss of
programs or information) arising out of the use of or inability
to use the Seller’s website or the Products, or any information
provided on the website, or in the Products;
b) any claim attributable to errors, omissions or other
inaccuracies in the Product or interpretations thereof.
4.4 All the information contained in the Products has been
obtained from sources believed to be reliable. The Seller
does not warrant the accuracy, completeness adequacy or
reliability of such information, which cannot be guaranteed to
be free from errors.
4.5 All the Products that the Seller sells may, upon prior notice
to the Buyer from time to time be modified by or substituted
with similar Products meeting the needs of the Buyer. This
modification shall not lead to the liability of the Seller,
provided that the Seller ensures the substituted Product is
similar to the Product initially ordered.
4.6 In the case where, after inspection, it is acknowledged that
the Products contain defects, the Seller undertakes to replace
the defective products as far as the supplies allow and without
indemnities or compensation of any kind for labor costs,
delays, loss caused or any other reason. The replacement is
guaranteed for a maximum of two months starting from the
delivery date. Any replacement is excluded for any event as set
out in article 5 below.
4.7 The deadlines that the Seller is asked to state for the mailing
of the Products are given for information only and are not
guaranteed. If such deadlines are not met, it shall not lead to
any damages or cancellation of the orders, except for non
acceptable delays exceeding [4] months from the stated
deadline, without information from the Seller. In such case only,
the Buyer shall be entitled to ask for a reimbursement of its first
down payment to the exclusion of any further damages.
4.8 The Seller does not make any warranties, express or implied,
including, without limitation, those of sale ability and fitness for
a particular purpose, with respect to the Products. Although
the Seller shall take reasonable steps to screen Products for
infection of viruses, worms, Trojan horses or other codes
containing contaminating or destructive properties before
making the Products available, the Seller cannot guarantee
that any Product will be free from infection.
5. FORCE MAJEURE
The Seller shall not be liable for any delay in performance directly
or indirectly caused by or resulting from acts of nature, fire, flood,
accident, riot, war, government intervention, embargoes, strikes,
labor difficulties, equipment failure, late deliveries by suppliers or
other difficulties which are beyond the control, and not the fault
of the Seller.
6. PROTECTION OF THE SELLER’S IPR
6.1 All the IPR attached to the Products are and remain the
property of the Seller and are protected under French and
international copyright law and conventions.
6.2 The Buyer agreed not to disclose, copy, reproduce,
redistribute, resell or publish the Product, or any part of it
to any other party other than employees of its company. The
Buyer shall have the right to use the Products solely for its
own internal information purposes. In particular, the Buyer
shall therefore not use the Product for purposes such as:
• Information storage and retrieval systems;
• Recordings and re-transmittals over any network (including
any local area network);
• Use in any timesharing, service bureau, bulletin board or
similar arrangement or public display;
• Posting any Product to any other online service (including
bulletin boards or the Internet);
• Licensing, leasing, selling, offering for sale or assigning the
Product.
6.3 The Buyer shall be solely responsible towards the Seller of
all infringements of this obligation, whether this infringement
comes from its employees or any person to whom the Buyer
has sent the Products and shall personally take care of any
related proceedings, and the Buyer shall bear related financial
consequences in their entirety.
6.4 The Buyer shall define within its company point of contact for
the needs of the contract. This person will be the recipient
of each new report in PDF format. This person shall also be
responsible for respect of the copyrights and will guaranty that
the Products are not disseminated out of the company.
6.5 In the context of annual subscriptions, the person of contact
shall decide who within the Buyer, shall be entitled to access
on line the reports on I-micronews.com. In this respect, the
Seller will give the Buyer a maximum of 10 password, unless
the multiple sites organization of the Buyer requires more
passwords. The Seller reserves the right to check from time
to time the correct use of this password.
6.6 In the case of a multisite, multi license, only the employee
of the buyer can access the report or the employee of the
companies in which the buyer have 100% shares. As a matter
of fact the investor of a company, the joint venture done with
a third party etc..cannot access the report and should pay a
full license price.
7. TERMINATION
7.1 If the Buyer cancels the order in whole or in part or postpones
the date of mailing, the Buyer shall indemnify the Seller for
the entire costs that have been incurred as at the date of
notification by the Buyer of such delay or cancellation. This
may also apply for any other direct or indirect consequential
loss that may be borne by the Seller, following this decision.
7.2 In the event of breach by one Party under these conditions
or the order, the non-breaching Party may send a notification
to the other by recorded delivery letter upon which, after a
period of thirty (30) days without solving the problem, the
non-breaching Party shall be entitled to terminate all the
pending orders, without being liable for any compensation.
8. MISCELLANEOUS
All the provisions of these Terms and Conditions are for the
benefit of the Seller itself, but also for its licensors, employees
and agents. Each of them is entitled to assert and enforce those
provisions against the Buyer.
Any notices under these Terms and Conditions shall be given in
writing. They shall be effective upon receipt by the other Party.
The Seller may, from time to time, update these Terms and
Conditions and the Buyer, is deemed to have accepted the latest
version of these terms and conditions, provided they have been
communicated to him in due time.
9. GOVERNING LAW AND JURISDICTION
9.1 Any dispute arising out or linked to these Terms and
Conditions or to any contract (orders) entered into in
application of these Terms and Conditions shall be settled
by the French Commercial Courts of Lyon, which shall have
exclusive jurisdiction upon such issues.
9.2 French law shall govern the relation between the Buyer and
the Seller, in accordance with these Terms and Conditions.
TERMS AND CONDITIONS OF SALES

Presentation of Yole
Développement
With Focus on Sapphire
LED, OLED and Display /
Lighting Activities
Corporate Presentation

25
Yole Développement
FromTechnologies to Market

26
Our 30 analysts
operate in the
following areas.
FIELDS OF EXPERTISE
MEMS
Sensors
LED
OLED
Compound
Semi.
Imaging Photonics
MedTech
Manufacturing
Advanced
Packaging
PV
Power
Electronics

27
Consulting and Analysis
• Market data research, marketing analysis
• Technology analysis
• Strategy consulting
• Reverse engineering costing
• Patent analysis
www.yole.fr
Reports
• Market Technology reports
• Patent Investigation and patent infringement risk
analysis
• Teardowns Reverse Costing Analysis
• Cost SimulationTool
www.i-Micronews.com/reports
Financial services
• MA (buying and selling)
• Due diligence
• Fundraising
• Maturation of companies
• IP portfolio management optimization
www.yolefinance.com
Media
• i-Micronews.com website
• @Micronews e-newsletter
• Technology magazines
• Communication webcast services
• Events
www.i-Micronews.com
4 BUSINESS MODELS

28
A GROUP OF COMPANIES
Market,
technology and
strategy
consulting
www.yole.fr
MA operations
Due diligences
www.yolefinance.com
Fundraising
Maturation of companies
IP portfolio management optimization
www.bmorpho.com
Manufacturing costs analysis
Teardown and reverse engineering
Cost simulation tools
www.systemplus.fr
IP analysis
Patent assessment
www.knowmade.fr

29
OUR GLOBAL ACTIVITY

30
RESEARCH PRODUCTS - CONTENT COMPARISON
Custom analysis scope is defined with
you to meet your information and
budget needs
Breadth of the analysis
Depthoftheanalysis
Custom
Analysis
Workshops
Standard Reports

31
Integrators and
end-users
Device
makers
Suppliers: material,
equipment, OSAT,
foundries…
Financial investors,
RD centers
Our analysts
provide market
analysis,
technology
evaluation, and
business plan
along the entire
supply chain.
SERVING THE ENTIRE SUPPLY CHAIN

32
• Consulting and Specific Analysis
• North America: Steve LaFerriere, Director of Northern America Business Development,Yole Inc.
Email: laferriere@yole.fr
• Japan:Yutaka Katano, General Manager,Yole Japan President,Yole K.K.
Email: katano@yole.fr
• RoW: Jean-Christophe Eloy, President CEO,Yole Développement
Email: eloy@yole.fr
• Report business
• North America: Steve LaFerriere, Director of Northern America Business Development,Yole Inc.
Email: laferriere@yole.fr
• Europe: Fayçal El Khamassi, Headquarter Sales Coordination Customer Service
Email: khamassi@yole.fr
• Japan Asia:Takashi Onozawa, Sales Asia General Manager,Yole K.K.
Email: onozawa@yole.fr
• Korea: HaileyYang, Business Development Manager, Korean Office
Email: yang@yole.fr
• Financial services
• Jean-Christophe Eloy, CEO President
Email: eloy@yole.fr
• General
• Email: info@yole.fr
CONTACT INFORMATION
Follow us on

33
About Sapphire, LED / OLED and
Display / Lighting Activities

34
We are active
throughout the
value chain:
from substrates
to systems! And
we interact
with industrial /
RD players
from each level!
Yole is active throughout the value chain (Example of LED and Sapphire activities)
FOCUS ON SAPPHIRE, LED / OLED AND DISPLAY / LIGHTING ACTIVITIES
Substrate
SiC / Sapphire / Silicon /
Bulk GaN / Engineered
substrates
LED epi-
wafer
Mesa LED, Flip Chip LED,
Vertical LED structures
LED dies-
on-wafer
LED dies
Front-end Level 0 - Epitaxy
• Nucleation layer
• n-type layer
• Active layers (MQW)
• p-type layer
Back-End Level 0 - Packaging
• Substrate separation Bonding
• Die singulation
• Testing Binning
LED systems and applications
Front-end Level 1 - Device Production
• Inspection
• Masking / Lithography
• Etching
• Metallization / Contacts / Mirrors
Back-End level 1 - Packaging
• Die Attach Interconnections
• Phosphors
• Encapsulation Optics
• Testing Binning
Packaged LEDs
Module Packaging
• Substrates (PCB)
• Encapsulation Optics
• Heatsink
• Testing Binning
LED modules

35
Insights on Forecast Methodology
“What’s Behind
the Crystal Ball?”
Only analysts that
follow the
industry on a daily
basis (trough
interviews and
developed market
modeling tools
based on
discussions with
key players of the
industry.
APPLICATION
Forecast of standard
product market volume
(unit)
Ex.: Smartphone, TVs, lamps (…)
Definition of functions using
LEDs
Ex.: “Flash vs. Keypad” for
smartphone (…)
Definition of technical
requirements
Ex.: Efficacy, size (…)
Definition of LED
penetration rate and
competitiveness with
alternative technologies
Ex.: “OLED vs. LED” in smartphone
(…)
Forecast of LED market volume (unit)
Split by application, power type (low vs. medium vs. high
power), package type (single vs. multi-die…) (… )
Definition of LED
ASP
Per power type, packaged
type (…)
Forecast of LED market size ($)
Split by application, power type, package type
(… )
Definition of manufacturing flows for
front-end and packaging (process,
technologies, materials, yields…)
Split by application, power type, package type (…)
Forecast of LED manufacturing
equipment and material markets
(unit and $)
Ex.: Phosphors, encapsulant, dicing equipment
Definition of LED die
surface (mm²)
Definition of substrate die surface (mm²)
and epiwafer volume (unit)
Split by type of substrate (…)
Forecast of LED substrate
markets (unit and $)
Split by type of substrate (…)
Definition of sale
levels of key
manufacturers ($)
Ex: LED, packaging
materials, epitaxy
materials, manufacturing
equipment, MOCVD
reactor, substrate (…)
System Plus Consulting
expertise in reverse
costing / reverse
engineering

36
A team based
on persons
having
complementary
skills and
expertise.
AboutYole’s AnalystTeam
Pierrick BOULAY - Market Technology Analyst
Pierrick BOULAY holds a master degree in Electronics from ESEO (France). He works as Market and Technology Analyst
in the fields of LED, OLED and Lighting Systems to carry out technical, economic and marketing analysis. He has experience
in both LED lighting (general lighting, automotive lighting…) and OLED lighting. In the past, he has mostly worked in RD
department for LED lighting applications.
Pars MUKISH - Business Unit Manager
Pars MUKISH holds a master degree in Materials Science Polymers (ITECH - France) and a master degree in Innovation
Technology Management (EM Lyon - France). Since 2015, Pars MUKISH has taken on responsibility for developing LED,
OLED and Sapphire activities as Business Unit Manager at Yole Développement. Previously, he has worked as Marketing
Analyst and Techno-Economic Analyst for several years at the CEA (French Research Center).
Dr. EricVIREY - Senior Market Technology Analyst
Eric VIREY holds a Ph-D in Optoelectronics from the National Polytechnic Institute of Grenoble (INPG - France). He
works as Market and Technology Analyst in the fields of Sapphire, LED / OLED and Display. In the last 12 years, he has held
various RD, engineering, manufacturing and marketing positions with Saint-Gobain. Most recently, he was Market Manager at
Saint-Gobain Crystals, in charge of Sapphire and Optoelectronic products.
Dr. Milan ROSINA - Senior Market Technology Analyst
Milan ROSINA holds a Ph-D in Optoelectronics from the National Polytechnic Institute of Grenoble (INPG - France). He
works as Market and Technology Analyst in the fields of Energy Conversion, LED / OLED and Emerging Materials. Before
joining Yole Développement, he has worked as research scientist and project manager in PV, microelectronics and LED
industries. He has more than 15 year experience with prominent research institutions and a utility company.

37
A collection of
more than 15
reports on
Sapphire, LED,
OLED, Display and
Lighting.
Report collection
Already published -Yole Développement:
• Status of the LED Industry
• LED in Road and Street Lighting
• LED Front End ManufacturingTrends
• LED Front End Equipment Market trends
• GaN-on-SiTechnology and Market
• Phosphors QDs - Market andTechnology Landscape
• LED Module Market,Technology and Industry
• Phosphors QDs - IP Landscape
From System Plus Consulting:
• LED CoSim+ Reverse Engineering / Reverse Costing reports
2016 Publication -To be published -Yole Développement :
• OLED For Lighting - Published in February 2016
• Automotive Lighting - Published in April 2016
• UV LED (Q2 - 2016)
• Sapphire (Q2 / Q3 - 2016)
• LED Packaging (Q3 - 2016)
• MicroDisplays and MicroLEDs (Q3 - 2016)
Our reports are unmatched in quality and technology depth and typically include:
• Technology trends and evolution:costs, barriers, roadmaps (…).
• Supply value chain analysis:business models, relationships,value flows (…).
• In-depth analysis of applications and market drivers:challenges,inflection points (…).
• Market data ($, units, wafer starts…)

Automotive Lighting: Technology, Industry, and Market Trends - 2016 Report by Yole Developpement

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