LGD secures reliable OLED source
LG Display (LGD) has joined forces with Japan’s Idemitsu Kosan in a bid to firmly establish itself as a major player in the rapidly developing OLED market. Idemitsu works in oil distribution and is active in the development of OLED materials. LGD says the strategic alliance guarantees it with a stable source of OLED display materials.
Additionally, both companies agreed on cross license regarding patented technologies and each company will be able to freely use the other's OLED related patents.
“We are very proud to forge a strategic alliance with the industry leader, LG Display,” said Idemitsu’s Electronic Materials Department’s executive director, Dr Yoshihisa Matsumoto.
“Through this agreement, we expect to consolidate a cross and tight relationship with LG Display and further strengthen Idemitsu's OLED technology and Business."
Dr. Byung-chul Ahn, vice president, who heads the OLED Business at LGD, added: "The agreement will not only fortify LG Display’s OLED business, but it will contribute significantly to our ability to respond to the mid to large-sized OLED market of notebook PCs and TVs over the mid to long-term. We have high hopes that this win-win relationship will bring major synergies to our respective OLED businesses."
Idemitsu has worked on OLED material research and development with Sony since 2005 and also collaborates with Toshiba Mobile Display in this area.
According to reports from news service, Reuters LGD expects to begin mass production of OLED screens in 2010.