MILPITAS, CA – KLA has announced that it is exiting the flat panel display (FPD) business by the end of the year, but will continue to provide services to the customer base for its discontinued products.

The company said the decision is based on multiple factors, including the cancellation of a new technology product by a major customer – reportedly Apple's recent scrapping of its microLED watch project – and it is investigating alternatives to the FPD business. FPD revenues accounted for 1.4% of the company's total revenue in 2023.

Apple's decision to cancel the microLED watch has affected other companies, as Ams-Osram also announced that it is considering its options after a canceled project and estimates its loss at $650 million to $900 million, while Kulicke & Soffa said it will also see losses of $110 million to $130 million after it had an Apple project canceled.

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