Date Announced: 23 Aug 2011 Seoul, South Korea-based Samsung Mobile Display Company (SMD), a manufacturer of active-matrix organic LED (OLED) display products, and Universal Display Corporation (UDC) (Nasdaq:PANL), an OLED technology and materials company, announced that the companies have entered into agreements under which UDC will license its technologies and sell its proprietary phosphorescent materials to SMD for use in its line of OLED display products. Performance advantages to OLEDs over traditional LCD displays include faster response times, wider viewing angles, higher contrast ratios, brigher, more saturated colors. The displays can also be thinner and more energy efficient than LCDs.The agreements announced include an OLED Patent License Agreement and a Supplemental OLED Material Purchase Agreement. Under the license agreement, Universal Display has granted SMD license rights under various patents owned or controlled by Universal Display to manufacture and sell certain phosphorescent OLED display products.In consideration of the license grant, SMD has agreed to pay Universal Display a license fee over the term of the license agreement, which runs through December 31, 2017.Under the supplemental agreement, SMD has agreed to purchase and Universal Display has agreed to supply a minimum amount of phosphorescent OLED material for SMD’s use in the manufacture of licensed products, subject to Universal Display being able to supply sufficient quantities to meet SMD’s requirements.
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