Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, and LG Chem, Ltd., Korea’s largest diversified chemical company, today announced a strategic OLED host partnership. Expanding on its decade-long partnership, Universal Display (UDC) and LG Chem will work together to develop and commercialize red, green and yellow OLED host materials. LG Chem will be a local manufacturer of these host materials for specific customers in Korea. Financial terms of the partnership agreement were not disclosed.
Yu Jiyung, President of Advanced Materials Company of LG Chem, said, “We expect synergy to be so great that two companies with the best technology in each field work together. We will produce emitting layer that has greatly improved high ‘Wide Color Gamut’ performance in line with the expansion of the OLED market and timely supply to customers.”
“We are pleased to broaden and bolster our long-term partnership with LG Chem,” said Steven V. Abramson, Universal Display’s President and Chief Executive Officer. “As the adoption of OLEDs continues to widen across the consumer electronics landscape, product roadmaps and OEM specifications are rapidly changing. We believe that this host collaboration will deliver customer value and further serve and support the Korean OLED ecosystem with high-performing, energy-efficient, cost-effective phosphorescent OLED emissive systems for bright, brilliant, beautiful OLED displays.”
