You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

CHONGQING, China, Dec. 21, 2020 /PRNewswire/ --KONKA(000016.SZ), a leading technology company in China, has released the world's first Micro LED watch, the APHAEA Watch, at KONKA's Semiconductor Display Technology and New Product Launch Conference and 2020 Chongqing Micro LED Industry Innovation Forum. KONKA's future APHAEA series of Micro LED display products were also featured, highlighting the company's R&D strengths in micro-pitch LED display and its commitment to bringing high-precision technology to the consumer market. KONKA APHAEA MICRO LED WATCH As the first Micro LED watch in the world, the APHAEA Watch is equipped with a P0.12AM-LTPS Micro LED screen, which reduces pixel pitch to just 0.12mm. By leveraging proprietary HMT technology developed by the Chongqing KONKA Optoelectronics Technology Research Institute, it is able to realize a variety of product forms, innovating watch display and opening up more future opportunities for Micro LED's applications across consumer scenarios. "Beginning in 2018, KONKA has now completed the overall design and strategic planning of our semiconductor operations," said Zhou Bin, President of KONKA. "We are focused on building up a comprehensive system across the entire chain, covering everything from materials and equipment, chip design, and wafer fabrication to packaging, testing, and downstream applications." At the press conference, a P0.9 small-pitch Micro LED display, a P0.49 small-pitch Micro LED display, and a glass-based P0.375 Micro LED display were showcased. The P0.375 Micro LED display utilizes a glass substrate, which offers improved heat dissipation, to achieve reduced power consumption, serving as an effective solution that ensures product reliability, lightness, and heat dissipation. This helps to significantly bring down product cost, laying the foundation for the production of high-resolution 4K/8K Micro LED consumer electronics products, as well as unleashing the mass transfer of technological knowledge and expertise. At the forum, KONKA and the Chongqing Bishan District Investment Platform jointly established the RMB 2 billion Chongqing Kangxin Semiconductor Industry Equity Investment Fund, to invest in new semiconductor materials, equipment, chips, IC design, packaging, and testing. KONKA has also signed multiple joint ventures on projects covering everything from smart wearables product support and production to smart commercial display engineering. KONKA seeks to link the industry upstream and downstream together, uniting semiconductor R&D with smart wearable products to realize the production and sale of smart wearable and mid-to-high-end smart commercial display products. In doing so, it hopes to leverage technology and scale to bring about the vertical, integrated, and high-end development of the semiconductor industry.Recently, KONKA also launched a variety of consumer Mini LED and Micro LED products, further propelling the commercialization of pixel pitches from the professional display field to the broader consumer market, thus enhancing the user experience with an exquisite and differentiated product portfolio. About KONKAAs a platform-based company driven by technological innovation, KONKA's scope of business covers consumer electronics products, semiconductor technology, eco-friendly technology, industrial parks, platform service and investment & finance. KONKA was established in 1980.Since 1999, KONKA has been ranked among China's top 100 best companies and has also been named one of the "Top 10 most valuable brands in China". With annual revenue of over $7.9 billion, KONKA has more than 60 subsidiaries, 300 sales offices, more than 3,000 service outlets and over 19,000 employees. In 2020, KONKA Group ranked 186 in top 500 companies in China. SOURCE KONKA

Answer: KONKA Releases the APHAEA Watch, the World's First Micro LED Watch