Kodak bids farewell to OLED business

The last thirty years has seen Kodak as one of the pioneers of the OLED technology.

One can legitimately call Kodak the father of OLED. However, Kodak has decided to give the responsibility of its OLED unit to the Korean LG Group.

The cross licensing agreement will take place by late 2009 as the deal comes to a close. The financial details have not been divulged, but news of patent infringement and lawsuit cases between companies have been rife.

It has been predicted by industry analysts that the OLED technology will become a billion dollar industry by the following year. The OLED technology consumes less energy, gives better quality images and is cost effective.

These features make it a clear winner above the LCD and plasma technology. OLED lights are even expected to take the place of fluorescent tubes and light bulbs in the near future. Kodak, not being ready for the kind of investment the technology needs, has sold off the business to LG Display.