Tianma and Universal Display extend OLED 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. Tianma Micro-electronics and Universal Display Corporation (UDC) entered into long-term, multi-year OLED patent license and material purchase agreements in 2016. Tianma is currently expanding its Gen 6 OLED facility in Wuhan and readying its new 48 billion yuan (USD 7.5 billion) OLED manufacturing plant in Xiamen for commercial mass production. “We are pleased to extend our long-term agreements with Tianma Micro-Electronics and further bolster our partnership of innovation, collaboration and excellence,” says Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation in the press release. “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.”