LG Display and Universal Display Corporation Extend Long-Term OLED Agreements
April 01 2021 - 4:15PM
Business Wire
Universal Display Corporation (Nasdaq: OLED), enabling
energy-efficient displays and lighting with its UniversalPHOLED®
technology and materials, and LG Display Co., Ltd. (NYSE: LPL), a
global leader in the development and production of innovative
display panels, today announced the extension of their long-term
agreements with the signing of new OLED Technology License and
Material Purchase Agreements. The new extended agreements run for
five years. Further details and financial terms of the agreements
have not been disclosed.
“We are pleased to announce these new extended agreements with
LG Display, which further strengthens our nearly two-decade long
partnership,” said Steven V. Abramson, President and Chief
Executive Officer of Universal Display Corporation. “Our close
collaboration with LG Display began when CRTs were still the
primary display technology for TVs. Fast forward to today, and LG
Display is leading the revolutionary path for OLED TVs. We look
forward to bolstering our robust working relationship with LG
Display on their leading-edge OLED panels through UDC’s OLED
technologies and energy-efficient, state-of-the-art phosphorescent
materials.”
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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Darice Liu investor@oled.com media@oled.com +1 609-964-5123
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