Great news for Universal Display share holders (Nasdaq:OLED). LG Display and UDC announcing a long term agreement for UniversalPHOLED technology and materials. LG Display plan to purchase materials from Universal Display until 31 December 2022. This long term relationship is a major step for UDC because under this agreement, UDC has granted non exclusive license rights under various patents owned or controlled by Universal Display to manufacture and sell OLED Display products. LG Display pays license fees and running royalties on its sales of these licensed products. UDC plan to supply phosphorescent materials to LG Display for its products. Steven V. abramson President and Chief Executive Officer from UDC is proud about this deal. “We are excited to enter into these agreements with our long-term partner LG Display, a global technology innovator who is leading the charge for OLED TVs, evidenced by its recent CES showcase of new 4K models ranging from 55″, 65″ and 77″ in flexible, curved and flat form factors,” This agreement is a big step and continued the acceptance of the OLED technology and UDCs phosphorescent materials.

Go here to see the original:
Universal Display and LG Display Long-Term OLED Patent License – License and Supplemental Material Purchase Agreements