LG Display and Idemitsu Allies to Develop High Quality OLED Products

LG Display Co Ltd has signed a strategic agreement with Idemitsu Kosan Co Ltd, the Japan-based OLED provider.

According to the Memorandum of Understanding the two companies will be cooperate to develop high quality OLED displays and OLED televisions. The MOU also allows the cross licensing regarding the patented OLED-based technologies.

LG Display will definitely benefit from this alliance in terms of having a steady supply of quality OLED materials with proposals on device structure which will allow the company to intensify the R&D and production of OLED related products.

LG Display’s OLED Business VP Dr. Ahn has pointed out that the alliance will increase the ability of the company to fulfill the increasing market demands for the medium to large OLED displays for PCs, notebooks and OLED TVs for medium to long term.

The agreement will be good for Idemitsu as well. By being the supplier of high quality OLED materials the company can have LG Display as their steady customers.