Universal Display

UDC and BOE sign a long-term OLED agreement

Universal Display announced that it has signed long-term OLED agreements with BOE Technology Group. Under these agreements, UDC will supply phosphorescent OLED materials to BOE. UDC and BOE signed their first agreement n 2014 and it is great to see these evolve into long-term agreements.

BOE Flexible AMOLED prototype photo

BOE started to produce flexible OLED displays at its Chengdu B7 6-Gen fab in October 2017. BOE's B7 fab is the company's first flexible AMOLED line and actual real mass production will probably begin at about Q1 2018. The full capacity is 48,000 substrates per month, but this will only be achieved in the first half of 2019.

UDC reports another excellent quarter, raises 2017 guidance

Universal Display reported its financial results for Q3 2017. Revenues in the quarter reached $61.7 million, up 104% from Q3 2016 ($30.2 million) driven by strong material sales and also increased royalty and license fees. Net income in the quarter was $13.5 million (up $15 million from a $1.5 million loss in Q2 2016).

UDC emitter and host materials photo

UDC's material sales increased 100% from Q3 2016 to reach $12 million, while royalties and license fees increased 131% to reach $12 million. UDC increased its revenue guidance for the full year 2017 to $310 million to $320 million. Revenues in the first nine months were $219.8 million.

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PPG and UDC complete their OLED material expansion project

In February 2017 Universal Display announced that the company will invest $15 million in PPG Industries' OLED facility in Barberton, Ohio. PPG will double its commercial production capacity of UDC's phosphorescent OLED emitter materials. The capacity expansion was scheduled to be completed in the third quarter 2017, and indeed today UDC announced that the expansion project is complete.

UDC PHOLED materials photo (2017)

PPG Industries and UDC established a strategic relationship in 2000, and PPG is the exclusive producer of UDC's PHOLED emitter materials. In 2013, the two companies opened this OLED production plant in Barbertron as demand for OLED materials increased.

How will the phosphorescent emitter market look in 2018, following UDC's basic material patent expiration?

The phosphorescent OLED emitter market is currently dominated by Universal Display who owns the basic patents to phosphorescent OLED emitters. All the major OLED makers (including Samsung and LGD) are using UDC's materials in order to achieve higher display efficiencies, beyond what is available from fluorescent emitters.

Universal Display holds over 4,000 issued and pending patents, but some of its basic phosphorescent patents are set to expire by the end of 2017. Honestly, it is very difficult to know exactly what effect this will have on the market - some analysts believe that it will carry very little effect while others say that this will open the door for other companies to sell competing phosphorescent emitters.

Universal Display to supply EverDisplay with phosphorescent OLED materials

Universal Display announced that China-based AMOLED producer Everdisplay (EDO) has signed an OLED evaluation agreement. As per the agreement, UDC will supply EDO with phosphorescent OLED materials to be used in EDO's displays.

Everdisplay HQ and 5.5-Gen Fab photo

Everdisplay actually started mass producing AMOLED displays towards the end of 2014 in a 4.5-Gen line with a monthly capacity of 20,000 substrates. The company is currently producing both small AMOLEDs for wearable devices and larger smartphone displays. EDO is also developing flexible OLEDs, transparent OLEDs and OLEDs for VR and automotive applications. EDO's current OLED displays can be found in the OLED Marketplace.

UDC reports excellent Q2 2017 results, progresses on blue

Universal Display reported excellent financial results for Q2 2017. Revenues increased 59% (compared to Q2 2016) to $102.5 million, with material sales increasing 110% to $46.8 million. Net income increased $25.4 million to $47.2 million.

UDC PHOLED materials photo (2017)

UDC has $380 million in cash and equivalents, and is on the lookout for opportunities to use this money. UDC also increased its guidance for 2017 to be in the range of $285 million to $300 million.

UDC accelerates its OVJP R&D, shows how the process works

Universal Display recently announced that it is accelerating OVJP R&D, and the company is looking to commercialize this technology with partners. UDC expects it to take a few years before OVJP can really be deployed in production. The company published the video below that shows off the technology and explains the basic principles and advantages.

OVJP stands for Organic Vapor Jet Printing, and the basic idea is to use a gas-stream based process that resembles ink-jet printing but one that uses evaporation OLED materials which outperform soluble ones. In an OVJP process, the OLED materials are evaporated into a carrier gas that delivers them to a jet engine for direct printing of patterned OLED layers. OVJP is intended for large-area OLED displays and can be scaled up to 10-Gen substrates according to UDC.

Universal Display is developing TADF emitter and host materials

Universal Display was recently awarded a new patent (USPTO #20170186976) that describes high electroluminescent efficiency TADF OLED emitter and host materials based on benzotriazoles.

UDC emitter and host materials photo

It is very interesting to see UDC developing TADF material. The company is focused on phosphorescent based OLEDs but, as they explain in the patent application, "phosphorescent materials generally contain a rare metal element such as Ir or Pt. These metals are rather expensive and are dependent on limited global resources". TADF could also be a viable route towards an efficient blue emitter (blue-emission is specifically mentioned in UDC's new patent).

Japan Display extend and enhance its evaluation agreement with UDC

Japan Display has extended and updated its evaluation agreement with Universal Display. UDC is supplying its phosphorescent OLED materials and technology to JDI for use in its OLED displays. The financial terms of the agreement have not been disclosed.

JDI was formed in November 2011 by Sony, Hitachi, and Toshiba who combined their small/medium panel production capabilities and received $2 billion from Japan's Innovation Network Corp (INCJ). JDI has an active OLED R&D program and plans to begin producing OLED panels in 2018.

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