Universal Display Inks Six Year Deal with Samsung

Universal Display Corporation, or simply known as UDC - a leading name in the organic LED product market has inked a brand new 6 year license and sales agreement with Samsung Mobile Display.

UDC’s tie up with the Korean Electronics giant is not a new thing as their business relationship dates back to almost 11 years now. And having signed this new deal, both the companies have extended this mutual benefiting relationship through at least December 2017.

“SMD is committed in leading the world display industry by offering high quality OLED products to its customers,” Soo In Cho, the president and CEO of SMD, said in a statement announcing the new UDC deal, Optics.org reports.

“I believe the long-term agreement with Universal Display and the continued close partnership between the companies will provide a platform for successfully establishing the OLED products as the mainstream display products,” he added.

Interestingly the move has been taken by the company barely a couple of weeks later since it announced its second quarter financial results. While announcing the Q2 results, CEO Steve Abramson made it clear that UDC and SMD were still focusing on the three month extension of their previous agreement.