EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, today announced that the European Patent Office (EPO) issued a decision on the previously-disclosed appeal of a prior ruling relating to the Company’s European Patent No. 1449238 (the EP '238 patent). The EPO panel revoked the patent previously allowed by the lower EPO, which had upheld the broadest claim of coverage for organometallic iridium device architectures. The opposing parties included Sumitomo Chemical Company, Merck Patent GmbH and BASF SE.

“While we believe the EPO’s decision is erroneous, as we have noted in the past, any one decision in any one jurisdiction is not expected to have a material effect on our commercial business or agreements”

“While we believe the EPO’s decision is erroneous, as we have noted in the past, any one decision in any one jurisdiction is not expected to have a material effect on our commercial business or agreements,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation.

Universal Display may seek to file a petition to review the matter, which if successful, may re-open the matter for review by the appellate panel. Additionally, the Company has a pending divisional EP patent application in which it intends to pursue substantial patent coverage that is similar to that provided in related patents that have previously been issued in the other jurisdictions.

The EP ‘238 patent is one of more than sixty patents issued worldwide that cover four early fundamental phosphorescent OLED inventions developed at Princeton University and the University of Southern California, which are exclusively licensed to Universal Display Corporation. Universal Display’s basic phosphorescent patents encompass organic light emitting devices that produce electroluminescence using an emissive layer comprised of a phosphorescent material.

UDC is committed to increasing the value of and defending its intellectual property portfolio by building upon and around its core fundamental phosphorescent patent families. The Company has a growing portfolio of over 3,000 issued and pending OLED device, architecture and material patents worldwide. This extensive IP framework is designed not only to fortify Universal Display’s licensing and materials business model beyond 2020, but to help ensure that the trajectory of the Company’s future will not be defined by any one patent or decision, favorable or unfavorable.

Universal Display Corporation notes that oppositions against issued and pending patents are common and decisions by patent tribunals are subject to further review and consideration. In addition, because of the application of different rules and regulations in different countries, and the fact that each patent in each jurisdiction represents a unique and distinct set of rights, a specific outcome in one jurisdiction may not be indicative of the likely outcome of similar challenges in other jurisdictions or the likelihood of such proceedings in other countries.

To see how Universal Display is changing the face of the display and lighting industries with its UniversalPHOLED®, white OLED and flexible OLED technologies, please visit the company at www.udcoled.com.

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 3,000 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, with international offices in Ireland, South Korea, Hong Kong, Japan and Taiwan, 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, DuPont Displays, Inc., Innolux Corporation, Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Lumiotec, Inc., Moser Baer Technologies Inc., Panasonic Idemitsu OLED Lighting Co., Pioneer Corporation, Samsung Display Corporation, Seiko Epson Corporation, Sony Corporation, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn more about Universal Display, please visit www.udcoled.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, as well as the protection to be afforded to the Company’s patents and its impact on the Company’s business, and the results of any appeals of adverse outcomes with respect to patent proceedings regarding the Company’s patents, 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, 2012. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

Contacts

Investor Relations:
Universal Display
Darice Liu, 609-671-0980 x558
dliu@udcoled.com
or
Media Contact:
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Matt McLoughlin, 610-228-2123
matt@gregoryfca.com