Universal, LG Display Sign 8-Year OLED Materials and License Pact

Universal Display believes its new long-term agreement with LG Display on OLED materials and licensing “is the kind of deal that will help OLED turn the corner, much like some of the key deals that accelerated LCD tech’s adoption,” emailed Universal spokeswoman Cassandra Grob Monday. “This has the potential to grow OLED manufacturing, device performance, adoption and expanded product integration.” Under the agreement, which runs through the end of 2022, Universal granted LG Display non-exclusive license rights under various Universal patents to manufacture and sell OLED display products, the companies said. LG Display will pay Universal license fees and “running royalties,” they said. Financial terms weren’t disclosed. Universal is a longtime supplier of phosphorescent OLED materials to LG Display, mostly red host and emitter products, and had long been seeking a long-term partnership with LG Display similar to the pact it had with Samsung that involves licensing and materials, Universal has said (see 1305170053).