Universal Display Corporation, enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, and LG Display Co., Ltd., a global leader in the development and production of innovative display panels, announced the extension of their long-term agreements with the signing of new OLED Technology License and Material Purchase Agreements.
The new extended agreements run for five years. Further details and financial terms of the agreements have not been disclosed.
“We are pleased to announce these new extended agreements with LG Display, which further strengthens our nearly two-decade long partnership,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “Our close collaboration with LG Display began when CRTs were still the primary display technology for TVs. Fast forward to today, and LG Display is leading the revolutionary path for OLED TVs. We look forward to bolstering our robust working relationship with LG Display on their leading-edge OLED panels through UDC’s OLED technologies and energy-efficient, state-of-the-art phosphorescent materials.”
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display, solid-state lighting applications with subsidiaries and offices around the world. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display
