Here's the story, Biff. Much as we would all like to read the tealeaves from sale of green in q1, it won't be possible to get a real read......here's why. PANL inventories green emitter at Duksan. Duksan opens emitter and adds to host material and then sends to Nippon Steel who holds as inventory. When Nippon gets an order from Samsung, it opens that package and mixes with its host material and then sells the whole shebang to Samsung. PANL books the sale when Nippon opens the package that Duksan shipped.
What I'm saying is that there's no way of knowing what's in inventory at Nippon. Therefore, first quarter sale of green may be skewed.
What we do know is that it's good news if the S4 sells robustly.
The fact that Nippon Steel is holding inventory isnt much different than Samsung holding the inventory. That is always going to be an unknown when a product shifts from R&D to commercialization.
What we do know is that total host sales were $6.23 million in 2012 with less than $500,000 in the 4th quarter. That includes shipments to both Samsung and LG. I am sure there could be some "finished" host materials at Nippon Steel but I doubt it is much. I think the bigger impact is simply the timing of the S4 display ramp. How many units will be built in the 1st quarter for a late April launch?