Konica Minolta and Universal Display Corporation today announced the signing of an OLED Technology License Agreement. Under the agreement, Konica Minolta will be able to integrate Universal Display's proprietary OLED technologies into Konica Minolta's white OLED lighting products, thus securing Konica Minolta to accelerate commercialization and to strengthen the competitiveness of its white OLEDs.

"We have been collaborating successfully with Universal Display in the OLED development for several years, and we are very much pleased that we have entered into the OLED Technology License Agreement with Universal Display today" stated Masatoshi Matsuzaki, Chief Technology Officer of Konica Minolta Holdings.

"By incorporating the phosphorescent OLED technology of Universal Display with our own technologies, such as our blue phosphorescent material technology, multi-layer design technology, optical design technology and coating technology, we will further accelerate development and commercialization of OLED lighting.

Under the agreement, Konica Minolta will pay UDC license fees and running royalties on the sale of the OLED lighting products. The term of the agreement runs through expiration of the licensed patents.

As a reminder, Konica Minolta has plans to release the lighting products in 2011. They are also working with GE on these products.

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