LG Display, Idemitsu Kosan Join Hand to Develop OLED Displays

LG Display Co Ltd announced that it has formed a strategic alliance with Idemitsu Kosan Co Ltd, a Japanese provider of OLED materials, to develop high-performance OLED displays. The two companies have signed a strategic memorandum of understanding (MOU) which includes technology development and cross licensing of patented OLED-related technologies.

The agreement secures LG Display a stable source of OLED materials including device structure proposals, allowing the company to reinforce research, development and manufacturing of OLED products. Its cooperation with Idemitsu will help accelerate the company’s OLED business, which is emerging as a new growth engine.

Idemitsu will benefit from the alliance by supplying high-performance OLED material to LG Display, a global display leader and cooperating in technology development and commercialization.

Dr Ahn, VP of OLED Business at LG Display, said the cooperation will help enhance the company's ability to respond to the mid- to large-sized OLED market for notebook PCs and TVs over the mid- to long-term.

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