SMD, Universal Display extend partnership

Seoul, South Korea — Samsung Mobile Display Co., Ltd. (SMD) and Universal Display Corp., Ewing, N.J., have extended their eleven-year relationship. Under the agreement, Universal Display will license its technologies and sell its proprietary materials to SMD for use in its line of OLED display products.

According to the companies, they will continue to work closely to accelerate growth in the OLED display industry through the development of state-of-the-art, energy-efficient OLED products.

The thinner and lighter OLEDs are said to offer much faster response times, wider viewing angles, higher contrast ratios and brighter, more saturated colors for better viewing. With Universal Display’s proprietary UniversalPHOLED technology and materials, OLEDs can also be more energy efficient than LCDs, said the companies.

The new agreements are an OLED Patent License Agreement and a Supplemental OLED Material Purchase Agreement. Under the license agreement, Universal Display has granted SMD license rights under various patents owned or controlled by Universal Display to manufacture and sell certain phosphorescent OLED display products. In return, SMD has agreed to pay Universal Display a license fee over the term of the license agreement.

Under the supplemental agreement, SMD has agreed to purchase and Universal Display has agreed to supply a minimum amount of phosphorescent OLED material for SMD’s use in the manufacture of licensed products, which is subject to Universal Display being able to supply sufficient quantities to meet SMD’s requirements. The agreements run through December 31, 2017.