Samsung Display and Universal Display Corporation extend OLED partnership

Samsung has been using OLED displays in its products for quite some time now and is also one of the biggest suppliers of OLED panels in the market. It sources phosphorescent OLED materials and technology from a company called Universal Display, they’re the building blocks for its OLED products. Samsung and Universal Display Corporation have announced today that they have signed long-term OLED material supply and license agreements.

Continuing supply of phosphorescent OLED materials

Universal Display Corporation supplies the UniversalPHOLED phosphorescent OLED materials used for manufacturing OLED panels. It will now continue to supply its proprietary materials and technology to Samsung Display for use in its OLED panels. This partnership will run through December 31, 2022 and may also be extended for an additional two-year period.

With rights to more than 4,500 issued and pending patents worldwide, Universal Display Corp has been a staple in the industry since 1994. “As Samsung continues expanding its OLED product roadmap and investments, we look forward to supporting its advancements with our highly-efficient, high-performing proprietary OLED technologies and UniversalPHOLED materials,” said Universal Display Corp CEO Steven V. Abramson.

Samsung’s display-making affiliate and the Universal Display Corporation have worked together for more than 18 years. This agreement is going to extend their partnership even further. Financial terms of the deal have not been disclosed by either company.