By Kim Yoo-chul
LG Display has renewed a licensing and material purchase agreement with Universal Display Corp. (UDC) of the United States on organic light-emitting diode (OLED) technology.
The agreement runs through 2022, extending the existing patent expiration of 2017, LG said Tuesday. It calls for the company to pay fixed license fees plus running royalties on its OLED products and buy phosphorescent materials from UDC.
"The renewed agreement, built on a long-term relationship between the two companies, grants us non-exclusive license rights under various patents owned or controlled by Universal Display to manufacture and sell OLED display products," LG spokesman Hyun Dong-hoon said.
LG Display has long used Universal Display's materials in its OLED TV displays.
Analysts and officials say this agreement represents LG's strong commitment to boost OLEDs in both televisions and flexible displays.
LG is working on developing mobile devices that can bend; its biggest stakeholder LG Electronics owns 37.9 percent of LG Display, and is reviewing possibilities of using flexible displays for new products.
Universal Display has a similar agreement in place with Samsung Display, which was signed in 2011. The Samsung agreement lasts till 2017.
Universal Display is a leader in developing OLED technologies, materials and services for the display and lighting industries. Founded in 1994, the company has exclusive, co-exclusive or sole license rights with respect to more than 3,300 issues and pending patents.
LG Display has renewed a licensing and material purchase agreement with Universal Display Corp. (UDC) of the United States on organic light-emitting diode (OLED) technology.
The agreement runs through 2022, extending the existing patent expiration of 2017, LG said Tuesday. It calls for the company to pay fixed license fees plus running royalties on its OLED products and buy phosphorescent materials from UDC.
"The renewed agreement, built on a long-term relationship between the two companies, grants us non-exclusive license rights under various patents owned or controlled by Universal Display to manufacture and sell OLED display products," LG spokesman Hyun Dong-hoon said.
LG Display has long used Universal Display's materials in its OLED TV displays.
Analysts and officials say this agreement represents LG's strong commitment to boost OLEDs in both televisions and flexible displays.
LG is working on developing mobile devices that can bend; its biggest stakeholder LG Electronics owns 37.9 percent of LG Display, and is reviewing possibilities of using flexible displays for new products.
Universal Display has a similar agreement in place with Samsung Display, which was signed in 2011. The Samsung agreement lasts till 2017.
Universal Display is a leader in developing OLED technologies, materials and services for the display and lighting industries. Founded in 1994, the company has exclusive, co-exclusive or sole license rights with respect to more than 3,300 issues and pending patents.
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