Universal Display Corporation (NASDAQ:OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, and Tianma Micro-electronics Co. Ltd. 天马微电å股份有é™å…¬å¸ (SZ.000050), 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 phosphorescent OLED materials and technologies to Tianma Micro-electronics through its wholly-owned subsidiary UDC Ireland Limited for an additional multi-year-term. Further details and financial terms of the extended agreements have not been disclosed.
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Tianma Micro-electronics and Universal Display Corporation (UDC) entered into long-term, multi-year OLED patent license and material purchase agreements in 2016. The extension of these agreements ensures the continued collaboration and fruitful partnership between two leading companies in the OLED ecosystem. Tianma is currently expanding its Gen 6 OLED facility in Wuhan and readying its new 48 billion yuan (US$7.5 billion) OLED manufacturing plant in Xiamen for commercial mass production. UDC will continue to supply its leading-edge, high-performing, and highly efficient phosphorescent materials and OLED technologies to support Tianma’s initiatives for delivering best-in-class, energy-efficient OLED displays to OEM customers and consumers around the world.
“We are pleased to extend our long-term agreements with Tianma Micro-Electronics and further bolster our partnership of innovation, collaboration and excellence,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “Tianma is broadening its leadership in the landscape of small-and-medium displays, and its new Gen 6 OLED fab in Xiamen is expected to support their growth. We are delighted to continue our great partnership with Tianma, providing our full suite of current and next-generation state-of-the-art OLED technologies and material solutions with trusted quality and assured delivery, and enabling added power savings to OLED products cost-effectively.”
