EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, announced today advances in the performance of its UniversalP²OLED™ solution-processible, phosphorescent OLED material systems for use with solution-based manufacturing processes. OLED manufacturers are evaluating manufacturing techniques, like ink-jet printing, as additional paths for the cost-effective production of large-area OLED displays and lighting panels. These developments were announced at the International Display Manufacturing Conference (IDMC 2011), held April 18-21, 2011 at the Taipei International Convention Center in Taipei, Taiwan.

“Universal Display’s P²OLED technology and materials have continued to progress over the past several years to the point where commercial viability is now in sight. Solution-based manufacturing techniques could become a cost-effective and attractive option for the production of OLED devices, especially at large sizes”

Dr. Kwang Ohk Cheon, Senior Research Scientist at Universal Display, reported in a paper titled ‘Progress in Solution Processible Phosphorescent Organic Light Emitting Devices (P²OLED)’ that Universal Display has further enhanced the performance of its UniversalP²OLED red, green and light blue materials systems, as follows:

• The green P²OLED system, which offers a luminous efficiency of 68 candelas per Ampere (cd/A), has now achieved 175,000 hours of operating lifetime. This represents approximately a 1.3 times improvement in lifetime over results reported last fall.
• The red P²OLED system, with a luminous efficiency of 18 cd/A, now offers an operating lifetime of 125,000 hours for a two-times improvement in lifetime.
• The light blue P²OLED system now offers a luminous efficiency of 29 cd/A and 8,000 hours of operating lifetime for a 1.6 times improvement in luminous efficiency and lifetime.

Operating voltage reductions were also achieved. These recent advances - the result of continued improvements in materials, device design and fabrication techniques - drive P²OLED performance closer to the levels currently obtained using vacuum-based manufacturing today. The operating lifetime data is reported as the time to 50% of the initial luminance of 1,000 nits without burn-in.

“Universal Display’s P²OLED technology and materials have continued to progress over the past several years to the point where commercial viability is now in sight. Solution-based manufacturing techniques could become a cost-effective and attractive option for the production of OLED devices, especially at large sizes,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “Combining the energy efficiency of our proprietary, phosphorescent OLED technology and materials with the potential cost-effectiveness of solution-based processing may help drive further growth and diversification of the OLED industry.”

Small-area OLED displays, manufactured using conventional vacuum thermal evaporation, have already entered the mainstream consumer market in display applications for smartphones and multi-media players. Display and lighting manufacturers are evaluating other techniques for the manufacture of large-area OLEDs in an effort to further drive down costs for OLED TV panel and lighting panel production. Solution-processible techniques, such as ink jet printing, are candidates for the efficient and low-cost manufacturing of large-area OLEDs.

To see how Universal Display is changing the face of the display and lighting industries, please visit the Company at www.universaldisplay.com.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: PANL) is a leader in developing and delivering state-of-the-art, organic light emitting device (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 1,000 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 white 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.

Based in Ewing, New Jersey, Universal Display works and partners with a network of world-class organizations, including Princeton University, the University of Southern California, the University of Michigan, and PPG Industries, Inc. The company has also established relationships with companies such as AU Optronics Corporation, Chimei Innolux Corporation, DuPont Displays, Inc., Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Moser Baer Technologies Inc., Samsung Mobile Display Co, Ltd., Seiko Epson Corporation, Sony Corporation, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn more about Universal Display, please visit www.universaldisplay.com.

Universal Display Corporation and the Universal Display 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, are forward-looking 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, 2010. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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