Ewing, N.J. – Display component supplier Universal Display has signed a new licensing and material purchase agreement on OLED technology with LG Display, the companies said Monday.
Universal Display produces energy-efficient displays and lighting based on its UniversalPHOLED technology and materials.
LG Display produces display panels for LG Electronics and other customers. The new agreements run through Dec. 31, 2022.
“We are excited to enter into these agreements with our long-term partner LG Display, a global technology innovator who is leading the charge for OLED TVs, evidenced by its recent CES showcase of new 4K models ranging from 55, 65 and 77 inches in flexible, curved and flat form factors,” said Steven V. Abramson, UDC president and CEO. “The growth of our relationship demonstrates the continued acceptance of our OLED technology and phosphorescent materials by the display industry for cutting-edge, high-performance, energy-efficient commercial OLED displays. We look forward to the continued collaboration in support of LGD’s advancements in expanding the thriving OLED product roadmap, including the advent of new form factors that redefine what a display can and will be.”
The renewed agreements build on a long-term relationship between the two companies, and grants LG Display non-exclusive license rights under various patents owned or controlled by Universal Display to manufacture and sell OLED display products.
In consideration of the license grant, LG Display has agreed to pay Universal Display license fees and running royalties on its sales of these licensed products over the term of the agreement. Additionally, Universal Display will supply phosphorescent materials to LG Display for use in its licensed products.
“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,” said Sang Deog Yeo, LG Display OLED business unit head.
Universal Display is a leader in developing and producing state-of-the-art, OLED technologies, materials and services to the display and lighting industries.
Founded in 1994, the company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 3,300 issued and pending patents worldwide.
Universal Display licenses proprietary technologies, including high-efficiency UniversalPHOLED phosphorescent OLED technology that can enable the development of low power and eco-friendly displays and lighting.
The company said it also develops and offers UniversalPHOLED materials that are the key ingredients in the fabrication of OLEDs with peak performance.
Universal Display also partners through technology transfer, collaborative technology development and on-site training, the company said.