Used as an intermediate in the synthesis of functional dyes and pigments, particularly in the production of charge-transport materials for organic electronics. It serves as a building block in the preparation of naphthalene-based polymers and small molecules used in photovoltaic cells and light-emitting diodes (OLEDs). Its hydroxyl and bromo groups allow for selective functionalization through coupling reactions, making it valuable in designing organic semiconductors and fluorescent probes. Also employed in the development of sensors due to its ability to undergo reversible redox reactions and interact with metal ions.