Universal Display Corporation, 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 US $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.