Visionox Technology, Inc. and Universal Display Corporation Extend Long-Term OLED Agreements
April 22 2021 - 4:15PM
Business Wire
Universal Display Corporation (Nasdaq: OLED), enabling
energy-efficient displays and lighting with its UniversalPHOLED®
technology and materials, and Visionox Technology, Inc. (维信诺), a
leading Chinese display panel manufacturer, today announced the
extension of their long-term OLED material supply and license
agreements. The agreements extend Universal Display’s supply of its
proprietary UniversalPHOLED phosphorescent OLED materials and
technology to Visionox Hefei Technology Co. Ltd. (合肥维信诺科技有限公司)
through its wholly-owned subsidiary UDC Ireland Limited. The new
agreements run for five years. Further details and financial terms
of the agreements have not been disclosed.
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“It is an exciting time in the OLED market as new products are
launched that showcase the benefits of innovative form factor, high
contrast ratio, wide color gamut, rich color saturation and fast
response times,” said Zhang Deqiang, President of Visionox
Technology, Inc. “We are pleased to strengthen our partnership with
Universal Display Corporation and extend our material and license
agreements. Our collaboration with UDC enables us to reach our goal
of providing best-in-class, energy-efficient, OLED displays in this
growing industry.”
“We are pleased to expand and extend our long-term agreements
with Visionox Technology to ensure the continued supply of our
highly-efficient, high-performing, proprietary, phosphorescent
materials for their broadening OLED product portfolio,” said Steven
V. Abramson, President and Chief Executive Officer of Universal
Display Corporation. “Visionox’s investments in OLED capacity,
including its new Gen 6 flexible Hefei fab, are expected to help
fuel the ongoing proliferation of cutting-edge OLEDs in the
consumer electronics landscape. With our deep and broad experience
and know-how of more than two-and-half decades of pioneering
research, we are continually discovering, designing and delivering
the best OLED emissive layer materials to support and enable the
industry and look forward to further growing our partnership with
Visionox.”
About Visionox Technology, Inc. (维信诺)
Founded in 2001, Visionox is the world's leading supplier of
integrated advanced display solutions, and its origin can be traced
to the Tsinghua University OLED (Organic Light Emitting Display)
research group, established in 1996. The company operates under a
vision of “pushing boundaries to enhance the experience of vision”
and a mission of “leading China's OLED industry through
technological innovation.” With over 20 years of experience in OLED
technology, Visionox has become a globally leading enterprise in
the OLED industry, covering R&D, production and sales. The
field of OLED technology has become competitive around the world.
Visionox practices constant self-innovation, steadily working to
develop OLED technology and the OLED industry, from basic research
to pilot production to mass production. Visionox has mastered many
core OLED technologies and holds more than 8,500 key OLED patents
to date. It has also received a number of prestigious awards
including First Prize in the State Technological Invention Award
(issued by the State Council of the PRC) and the China Patent Gold
Award (jointly issued by the WIPO and the Chinese Patent Office).
In 2002, Visionox spearheaded the formulation of OLED international
and national standards and continues to lead the endeavor. Visionox
is responsible for the formulation and revision of four OLED
international standards and leading the framework for six OLED
national standards and four OLED industrial standards. Visionox has
secured a dominant position among international competition,
becoming a leading voice in China's industrial development.
Leveraging its existing technological advantages and embracing new
trends, Visionox actively explores technological frontiers that
represent the future of the industry, such as flexible AMOLED
technology. Visionox has successfully created many of the world's
“firsts”, including the world's first fully scrollable AMOLED
display, the world's first bi-directional foldable single-axis
display module and many other flexible products. With products
boasting a folding radius as small as 1.6 mm, Visionox has made
repeated breakthroughs in flexible foldable technology. It has also
formulated two international standards for flexible display, and
leads the world in flexible OLED technology. Visionox focuses on
OLED technology and industrial development, with a commitment to
independent innovation and keeping the development of China's OLED
industry on pace with the rest of the world. Visionox provides
customers with a high-quality visual experience and has
incorporated China's supply-side structural reform. Embracing the
belief that innovation is the soul of an enterprise, Visionox
always strives for world-class excellence, endeavoring to provide
the most-advanced display solutions that enhance the experience of
vision. For more information, please visit
http://www.visionox.com/.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the
research, development and commercialization of organic light
emitting diode (OLED) technologies and materials for use in
display, solid-state lighting applications with subsidiaries and
offices around the world. Founded in 1994, the Company currently
owns, exclusively licenses or has the sole right to sublicense more
than 5,000 patents issued and pending worldwide. Universal Display
licenses its proprietary technologies, including its breakthrough
high-efficiency UniversalPHOLED® phosphorescent OLED technology
that can enable the development of energy-efficient 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. To learn more about Universal
Display Corporation, please visit https://oled.com/.
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 the impact of the COVID-19 pandemic on the
Company and otherwise, the Company’s technologies and potential
applications of those technologies, the Company’s expected results
and future declaration of dividends, 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
sections entitled “Risk Factors” in Universal Display Corporation’s
Annual Report on Form 10-K for the year ended December 31, 2020 and
subsequent Quarterly Reports on Form 10-Q. Universal Display
Corporation disclaims any obligation to update any forward-looking
statement contained in this document.
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version on businesswire.com: https://www.businesswire.com/news/home/20210422005975/en/
Universal Display Contact: Darice Liu investor@oled.com
media@oled.com +1 609-964-5123
Visionox Technology, Inc. Contact: Wenjuan Liu
ir@visionox.com pr@visionox.com (+86-010) 8405-9733
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