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# Korean microdisplay supplier ends UK deal after HUD maker's collapse
- URL: https://asia-tech-news.ghost.io/korean-microdisplay-supplier-ends-uk-deal-after-hud-makers-collapse/
- Published: 2026-11-09T15:10:57.000Z
- Updated: 2026-11-09T15:10:57.000Z
- Description: Raontech had collected less than half of the US$5.5 million its two contracts with the British company were valued at.
- Author: Kbot Crew
- Tags: Automotive displays, Displays & panels, Raontech, Envisics, General Motors, #for-ian, #edibot, #edibot-changed

Raontech (라온텍), a South Korean designer of microdisplays for smart glasses and car head-up displays, has ended two contracts to develop microdisplays for Envisics (엔비직스), a British developer of holographic head-up displays for cars, more than six months after Envisics went into administration. Raontech's filings since 2023 had identified the client only as an "auto parts maker."

[Raontech](http://www.raon-tech.com/?ref=asia-tech-news.ghost.io), based in Seongnam, south of Seoul, said in [Nov. 6 filings](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20261106900848&ref=asia-tech-news.ghost.io) that both sides agreed on Nov. 5 to end the contracts because of Envisics' insolvency. [Envisics](https://envisics.com/?ref=asia-tech-news.ghost.io), of Milton Keynes, England, entered administration, a UK insolvency process, on April 22, according to [a notice in The Gazette](https://www.thegazette.co.uk/notice/5125023?ref=asia-tech-news.ghost.io). Envisics [said in June 2025](https://envisics.com/wp-content/uploads/2025/06/Press-release-Envisics-Cadillac-VISTIQ-June-25-2025.pdf?ref=asia-tech-news.ghost.io) that it was the exclusive supplier of the augmented-reality head-up display (AR-HUD), which overlays driving information on the road ahead, in [General Motors](https://www.gm.com/?ref=asia-tech-news.ghost.io)' 2026 Cadillac Vistiq.

By our calculation from [Raontech's Nov. 6 filings](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20261106900889&ref=asia-tech-news.ghost.io), Envisics had paid US$2.16 million of the US$5.5 million the two contracts were worth. On the newer contract, signed in February for US$2.6 million, it had paid just US$260,000\. The unperformed US$2.34 million equaled 38.3% of Raontech's 2024 revenue, the company said.

Raontech's [half-year report](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260814003886&ref=asia-tech-news.ghost.io), filed Aug. 14, already said work on both projects had been "temporarily suspended" at the customer's request and that Raontech planned to resume it. In the first half, Raontech set aside about 1.2 billion won (about US$890,000) against amounts it had earned but not collected on the older contract.

According to the [administrators' proposals](https://find-and-update.company-information.service.gov.uk/company/09958534/filing-history/MzUyNjE3NjQ4M2FkaXF6a2N4/document?format=pdf&download=0&ref=asia-tech-news.ghost.io), Envisics was four days from completing the internal-investor part of a Series D funding round when an unnamed key customer said it was reviewing its commitment to its AR-HUD strategy and considering canceling its production contract. The funding fell through. Envisics' UK company laid off 62 of its 79 staff when the administrators were appointed and the last 17 on May 20, when a sale of the business proved unachievable. By June 9, the administrators had accepted an offer for certain assets, without naming the buyer.

Raontech's report points to another market for its chips: it says it has supplied them in volume since the second half of 2022 for optical switches in data-center networks.

*Sources*

- [라온텍 Raontech (DART filing, contract termination)](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20261106900848&ref=asia-tech-news.ghost.io)
- [라온텍 Raontech (DART filing, contract termination)](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20261106900835&ref=asia-tech-news.ghost.io)
- [라온텍 Raontech (DART filing, amended 2023 contract)](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20261106900875&ref=asia-tech-news.ghost.io)
- [라온텍 Raontech (DART filing, amended 2026 contract)](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20261106900889&ref=asia-tech-news.ghost.io)
- [라온텍 Raontech (DART half-year report)](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260814003886&ref=asia-tech-news.ghost.io)
- [The Gazette (notice 5125023)](https://www.thegazette.co.uk/notice/5125023?ref=asia-tech-news.ghost.io)
- [FRP Advisory, Administrators' Proposals (Companies House)](https://find-and-update.company-information.service.gov.uk/company/09958534/filing-history/MzUyNjE3NjQ4M2FkaXF6a2N4/document?format=pdf&download=0&ref=asia-tech-news.ghost.io)
- [Envisics](https://envisics.com/wp-content/uploads/2025/06/Press-release-Envisics-Cadillac-VISTIQ-June-25-2025.pdf?ref=asia-tech-news.ghost.io)
- [Raontech](http://www.raon-tech.com/microdisplay/?ref=asia-tech-news.ghost.io)
- [디지털투데이 DigitalToday](https://www.digitaltoday.co.kr/disclosure/articleView.html?idxno=713455&ref=asia-tech-news.ghost.io)
- [Envisics (Multi Media page)](https://envisics.com/multi-media/?ref=asia-tech-news.ghost.io)

Editor: Ian Lamont