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Technology Stocks : OLED Universal Display Corp
OLED 144.53-1.0%Dec 3 4:00 PM EST

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From: Dkjunior1434/22/2021 4:22:31 PM
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Visionox Technology, Inc. and Universal Display Corporation Extend Long-Term OLED Agreements

4:15pm ET, 04/22/2021 - Business Wire

HEFEI, China & EWING, N.J.--(BUSINESS WIRE)--Apr. 22, 2021-- Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, and Visionox Technology, Inc., a leading Chinese display panel manufacturer, today announced the extension of their long-term OLED material supply and license agreements. The agreements extend Universal Display’s supply of its proprietary UniversalPHOLED phosphorescent OLED materials and technology to Visionox Hefei Technology Co. Ltd. through its wholly-owned subsidiary UDC Ireland Limited. The new agreements run for five years. Further details and financial terms of the agreements have not been disclosed.

This press release features multimedia. View the full release here: businesswire.com

“It is an exciting time in the OLED market as new products are launched that showcase the benefits of innovative form factor, high contrast ratio, wide color gamut, rich color saturation and fast response times,” said Zhang Deqiang, President of Visionox Technology, Inc. “We are pleased to strengthen our partnership with Universal Display Corporation and extend our material and license agreements. Our collaboration with UDC enables us to reach our goal of providing best-in-class, energy-efficient, OLED displays in this growing industry.”

“We are pleased to expand and extend our long-term agreements with Visionox Technology to ensure the continued supply of our highly-efficient, high-performing, proprietary, phosphorescent materials for their broadening OLED product portfolio,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “Visionox’s investments in OLED capacity, including its new Gen 6 flexible Hefei fab, are expected to help fuel the ongoing proliferation of cutting-edge OLEDs in the consumer electronics landscape. With our deep and broad experience and know-how of more than two-and-half decades of pioneering research, we are continually discovering, designing and delivering the best OLED emissive layer materials to support and enable the industry and look forward to further growing our partnership with Visionox.”
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