Samsung Mobile Display (SMD) and Universal Display Corp. (UDC) have announced that the companies have entered into agreements under which Universal Display will license its OLED technologies and sell its proprietary materials to SMD for use in its line of state-of-the-art OLED display products. The agreements run through December 31, 2017.
The agreements announced cover 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 consideration of the license grant, 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, subject to Universal Display being able to supply sufficient quantities to meet SMD's requirements.
Building on their eleven-year relationship, SMD and Universal Display will continue to work closely to accelerate growth of the OLED display industry through the development of state-of-the-art, energy-efficient OLED products.
Soo In Cho, President and CEO of Samsung Mobile Display, said, “SMD is committed in leading the world display industry by offering high quality OLED products to its customers.” Soo In Cho, added, “I believe the long-term agreement with Universal Display and the continued close partnership between the companies will provide a platform for successfully establishing the OLED products as the mainstream display products.”
Steven V. Abramson, President and Chief Executive Officer of Universal Display, said, “As the world’s leading developer and manufacturer of active-matrix OLEDs, Samsung Mobile Display has been a true visionary and leader in setting out a path to seize the tremendous potential for OLEDs, including through the extremely popular line of Galaxy S smart phones. SMD has been an excellent partner since we started working together over ten years ago.” Steven added, “We are extremely pleased to continue this strong relationship with SMD to support them with state-of-the-art technologies and materials as they continue to develop and introduce exciting new OLED display products to the marketplace. Working even more closely, we look forward to realizing the full growth potential for the OLED display industry.”