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Universal Display Corporation Continues Philips Relationship with Commercial Material Supply Agreement For OLED Lighting
|By Business Wire
|July 29, 2014 04:05 PM EDT
Display Corporation (Nasdaq: OLED), enabling energy-efficient
displays and lighting with its UniversalPHOLED®
technology and materials, today announced that it has broadened its
Philips relationship to a commercial material supply agreement. With
this, Universal Display will extend its supply agreement from the
evaluation phase, to provide Philips with its proprietary PHOLED™
phosphorescent OLED materials and technology for use in its commercial
OLED lighting products.
“We are excited to extend our working relationship with Philips, the
global leader in lighting,” said Steven V. Abramson, President and Chief
Executive Officer of Universal Display. “This is an important next step
for UDC, from the earlier evaluation agreement we announced in November
2013. It demonstrates the continued acceptance of UDC’s phosphorescent
OLED technology and materials by the emerging OLED lighting industry for
high performance, energy-efficient solid-state lighting.”
Efficacy and color quality are key metrics in lighting. Universal
Display’s proprietary PHOLED technology offers up to four times the
efficiency of conventional OLED technology – a feature that is very
important for energy-efficient solid-state lighting. UDC’s OLED
technology and materials enable OLED lighting to have excellent color
quality, making them very appealing and attractive sources of light.
NanoMarkets forecasts that the addressable market for OLED lighting
panels could reach $1.4 billion in 2019. One of the driving benefits of
this emerging form of solid-state lighting is design flexibility.
NanoMarkets has noted that ultra-thin form factor enables the true
integration of lighting elements into architecture and the creation of
free-form luminous objects. Other advantages of OLED lighting include:
color tunable, easy to control, lower operating temperatures, cool to
touch, low drive voltage, instant “ON,” dimmable without flicker, no
glare, no noise and low UV content.
To see how Universal Display is changing the face of the display and
lighting industries with its UniversalPHOLED, white OLED, and flexible
OLED technologies, please visit the company’s website at http://www.udcoled.com.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in developing
and delivering state-of-the-art, organic light emitting diode (OLED)
technologies, materials and services to the display and lighting
industries. Founded in 1994, the Company currently owns or has
exclusive, co-exclusive or sole license rights with respect to more than
3,000 issued and pending patents worldwide. Universal Display licenses
its proprietary technologies, including its breakthrough high-efficiency
UniversalPHOLED® phosphorescent OLED technology, that can
enable the development of low power and eco-friendly displays and white
lighting. The Company also develops and offers high-quality,
state-of-the-art UniversalPHOLED materials that are recognized as key
ingredients in the fabrication of OLEDs with peak performance. In
addition, Universal Display delivers innovative and customized solutions
to its clients and partners through technology transfer, collaborative
technology development and on-site training.
Based in Ewing, New Jersey, with international offices in Ireland, South
Korea, Hong Kong, Japan and Taiwan, Universal Display works and partners
with a network of world-class organizations, including Princeton
University, the University of Southern California, the University of
Michigan, and PPG Industries, Inc. The Company has also established
relationships with companies such as AU Optronics Corporation, BOE
Technology, DuPont Displays, Inc., Innolux Corporation, Kaneka
Corporation, Konica Minolta Technology Center, Inc., LG Display Co.,
Ltd., Lumiotec, Inc., Philips Technologie GmbH, Pioneer Corporation,
Samsung Display Co., Ltd., Sony Corporation, and Tohoku Pioneer
Corporation. To learn more about Universal Display, please visit http://www.udcoled.com.
Universal Display Corporation and the Universal Display logo are
trademarks or registered trademarks of Universal Display Corporation.
All other company, brand or product names may be trademarks or
All statements in this document that are not historical, such as
those relating to Universal Display Corporation’s technologies and
potential applications of those technologies, the Company’s expected
results as well as the growth of the OLED market and the Company’s
opportunities in that market, are forward-looking financial statements
within the meaning of the Private Securities Litigation Reform Act of
1995. You are cautioned not to place undue reliance on any
forward-looking statements in this document, as they reflect Universal
Display Corporation’s current views with respect to future events and
are subject to risks and uncertainties that could cause actual results
to differ materially from those contemplated. These risks and
uncertainties are discussed in greater detail in Universal Display
Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission, including, in particular, the
section entitled “Risk Factors” in Universal Display Corporation’s
annual report on Form 10-K for the year ended December 31, 2013.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.
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