Universal Display (UDC) and LG Display (LGD) have signed a new OLED technology license agreement and supplemental material purchase agreement which both run through until the end of December 2022.
Under the terms of the agreement, UDC has granted LGD non-exclusive rights under UDC’s patents to manufacture and sell OLED display products. For its part, LGD has agreed to pay license fees and running royalties on its sales of these licensed products over the term of the agreement. Additionally, UDC will supply phosphorescent materials to LGD for use in its licensed products.
Sang Deog Yeo, president and head of LGD’s OLED business unit said: “This is a win-win partnership for both companies. We expect this strategic alliance with Universal Display will bring synergies in accelerating the growth of OLED technology, and based on strengthened OLED business, LG Display is committed to deliver differentiated products to customers and the market”.
