EWING, N.J.--(BUSINESS WIRE)--
Universal
Display Corporation (Nasdaq:OLED), enabling energy-efficient
displays and lighting with its UniversalPHOLED®
technology and materials, today announced the signing of long-term OLED
material supply and license agreements with Samsung Display Co., Ltd.
(SDC), a global display manufacturing leader. These agreements affirm
that Universal Display will continue to supply its proprietary
UniversalPHOLED phosphorescent OLED materials and technology to Samsung
Display for use in its OLED displays. The agreements are scheduled to
run through December 31, 2022, and may be extended for an additional
two-year period. Financial terms of the agreements have not been
disclosed.
“We are pleased to announce the signing of these long-term agreements
with our partner Samsung Display,” said Steven V. Abramson, President
and Chief Executive Officer of Universal Display Corporation.
“Collaborating for over eighteen years, Samsung Display has been at the
forefront of the OLED revolution with its vibrant, colorful, and
brilliant displays. SDC’s ground-breaking innovation and manufacturing
leadership are paving new pathways of growth in the display industry,
including the advent of new form factors. As Samsung continues expanding
its OLED product roadmap and investments, we look forward to supporting
its advancements with our highly-efficient, high-performing proprietary
OLED technologies and UniversalPHOLED materials.”
About Universal Display Corporation
Universal Display Corporation (Nasdaq:OLED) is a leader in developing
and delivering state-of-the-art, organic light emitting diode (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
4,500 issued and pending patents worldwide. Universal Display licenses
its proprietary technologies, including its breakthrough high-efficiency
UniversalPHOLED® phosphorescent OLED technology that can enable the
development of low power and eco-friendly displays and solid-state
lighting. The Company also develops and offers high-quality,
state-of-the-art UniversalPHOLED materials that are recognized as key
ingredients in the fabrication of OLEDs with peak performance. In
addition, Universal Display delivers innovative and customized solutions
to its clients and partners through technology transfer, collaborative
technology development and on-site training. To learn more about
Universal Display Corporation, please visit http://www.oled.com.
Universal Display Corporation and the Universal Display Corporation logo
are trademarks or registered trademarks of Universal Display
Corporation. All other company, brand or product names may be trademarks
or registered trademarks.
All statements in this document that are not historical, such as
those relating to Universal Display Corporation’s technologies and
potential applications of those technologies, the Company’s expected
results, as well as the growth of the OLED market and the Company’s
opportunities in that market, are forward-looking financial statements
within the meaning of the Private Securities Litigation Reform Act of
1995. You are cautioned not to place undue reliance on any
forward-looking statements in this document, as they reflect Universal
Display Corporation’s current views with respect to future events and
are subject to risks and uncertainties that could cause actual results
to differ materially from those contemplated. These risks and
uncertainties are discussed in greater detail in Universal Display
Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission, including, in particular, the
section entitled “Risk Factors” in Universal Display Corporation’s
annual report on Form 10-K for the year ended December 31, 2016.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.
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Source: Universal Display Corporation