EWING, N.J. & SHANGHAI--(BUSINESS WIRE)-- Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, today announced an OLED evaluation agreement with EverDisplay Optronics (Shanghai) Limited (和辉光电). Under this agreement, Universal Display (UDC) will supply EverDisplay Optronics (EDO) with its proprietary UniversalPHOLED phosphorescent OLED materials for display applications. Details and financial terms of the agreement have not been disclosed.

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“Universal Display Corporation is a leading OLED material supplier, and we are glad to cooperate with them to further enhance the performance of our AMOLED product at this stage. We believe that both UDC and EDO will continue to work closely together on a mutually beneficial basis,” said Dr. Jr-Hong Chen, Chief Technology Officer of EverDisplay Optronics (Shanghai) Limited.

“We are pleased to partner with emerging Chinese OLED manufacturer EverDisplay Optronics,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “OLEDs are inherently bright, beautiful, brilliantly colorful and simple devices, and we believe that consumer adoption is in its early stage. As EDO continues to commercialize its portfolio of advanced OLED displays, we look forward to supporting them with our state-of-the-art, highly-efficient, high-performing proprietary UniversalPHOLED materials.”

About EverDisplay Optronics

EverDisplay Optronics (Shanghai) Limited (EDO), incorporated in October 2012 and located in Jinshan, Shanghai, is a high-tech company dedicated to mass production of small-to-medium AMOLED display and research of next generation technology. EDO has invested 7.05 billion RMB (1.1 billon USD) and built the first G4.5 LTPS AMOLED mass production line in China. To further expand mass production scale, EDO is building a G6 AMOLED production line. EDO focuses on AMOLED technology and small-to-medium display market. Bearing the corporate spirit of “Courage, Integrity, Wisdom and Modesty”, EDO encourages innovation and independence, and is dedicated to bringing the best AMOLED display to the Chinese market. As a Chinese AMOLED front runner, EDO has started a new AMOLED era in China.

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 4,200 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.

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 and EverDisplay Optronics (Shanghai) Limited