I am particularly excited about our robust customer engagement around the cutting-edge capabilities we create through the investment in 8-inch manufacturing capability for LED and particularly microLED. We are realizing an industry-leading technology offering for next-generation products and are confident about the strong position we hold in microLED.
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Janardan Menon
Got it. And then just ? can you just elaborate a little bit on the sensing win in 2024? Is that a smartphone-related win? And can you give any further detail on what area of sensing it might relate to?
Alexander Everke
Yes. Thanks for the question, Alex here. So I can?t go into the specifics. But certainly, you could easily imagine if you want to turn around the market share into a very positive spirit. Then it has to be in the market, which is the largest one, which is platform obviously. And certainly, it has to be meaningful design wins to drive market share improvement we are seeing for 2024. So we are very happy that our plan we put together, we can execute timely, and we predict high volume in this area.
Janardan Menon
And this is not in any way related to the microLED production, there is two completely different things.
Alexander Everke
Yes, you?re right. That?s completely different. We are positive, as you mentioned, on microLED, but that?s one to reverse the market share development into a positive one is related to sensing.
Janardan Menon
Understood. Thank you very much.
Operator
Our next question is from the line of Adithya Satyanarayana Metuku from Credit Suisse. Please go ahead.
Adithya Satyanarayana Metuku
Yes. Good morning, guys. Thank you for taking my questions. Two, please. So firstly, in the press release, you talked about strong engagement on microLEDs. There is recently been talk in the market about Ennostar winning microLED contracts with Apple and with Meta. There is also been talk about Tianma in China setting up a JV with three state-owned enterprises for microLED pilot lines. And when I look at the margins for these companies to have sub-20% gross margins and the reference in microLED will likely increase competition in the space. So can you give us any more color on the engagement you?re seeing and the traction you?re seeing on microLEDs that will help us kind of think about where you are relative to your competitors? And secondly, a question for Ingo, can you remind us where you are in your cost savings trajectory and what is reflected in the underlying OpEx today? And what is yet to come? And what the additional cost savings you?re announcing today will mean in terms of numbers going forward? That would be super helpful. Thank you.
Alexander Everke
Yes. Adithya, let me start with your first question, then Ingo takes the second one. To be very clear on microLED today, we don?t see a meaningful competition in the areas we are playing. That may change over time. But today, we have the very, very clear lead in this technology, not only from the process technology, but also for the design. We mentioned also multiple times that ams-OSRAM is extremely strong and differentiated in the red color microLED. I think it?s also important to recap a bit that when the market talks about microLED, they sometimes talk about different products and different structures of microLED. When we are talking about MicroED, what we are focusing on is very, very small microLEDs, which are necessary for smaller displays. And that is a big advantage we have. And on top of that, we are building the first and only 8-inch wafer fab, which creates also a very strong cost advantage and performance advantages to any other competitor, which may come up over time. And we can clearly say that this is a very complex value chain. So we are delivering and designing, manufacturing one part of the total solution. And there are other stakeholders in the supply chain and the way of working is very intense because every chain and every piece of the chain has to work together to bring a complete solution to the market. And we clearly can say they are very ? they are top players of the industry in this value chain, who are working together to make this a success.
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