Kodak recently said that it is selling most of its assets in OLED display technology to a group of LG companies for an undisclosed sum.
The photo giant said the move, which is expected to close by the end of the year, will tighten its investment focus and strengthen its financial position.
Kodak was an early pioneer in developing OLED technology, having developed the world's first viable OLED material in the 1970s.
Kodak said it will have continuing access to its OLED technology for use in its products.
Although OLED technology is being positioned as the next flat-panel display technology for consumer HDTVs, its role to date has been limited to smaller-screen TVs, instrument panels and viewfinders. The technology is extremely energy efficient; produces strong contrast, color and brightness performance; and promises ultra-thin screen designs.
The technology has proven difficult to mass-produce in the larger screen sizes and panel life needed for today's TV screens. Although improved dramatically in recent years, it has been difficult to bring up to the levels of today's LCD and plasma screens.
“As we said earlier this year, OLED is one of the businesses we wanted to reposition to maximize Kodak's competitive advantage at the intersection of materials and imaging science,” stated Laura G. Quatela, Kodak's chief intellectual property officer and OLED business manager.