Financial terms of the agreement have not been disclosed; however, as is customary with these agreements, Universal Display will recognize commercial chemical sales and license fee revenues from its supply of materials to LG.Philips LCD. The term of the agreement runs through June 30, 2008.
“LG.Philips LCD has long been a leader in LCD display products, and we are excited to be part of their plans for the production of AMOLED display products for the commercial market,” said Steven V. Abramson, President and Chief Operating Officer of Universal Display. “This new agreement with LG.Philips LCD illustrates the acceptance of our phosphorescent OLED technology and materials by the display industry for thinner, energy-efficient commercial OLED displays.”
LG.Philips LCD is currently focused on introducing small and medium-sized OLED panel applications. The relationship between LG.Philips LCD and Universal Display most recently yielded the world’s first high-resolution AMOLED display built on flexible metal foil utilizing Universal Display’s proprietary high-efficiency PHOLED and FOLED® flexible technologies.