LG Display and Idemitsu Collaborate in Developing Better OLED Products

LG Display Co Ltd. has formed a tactical alliance with Idemitsu Kosan Co Ltd., the Japanese company that provides OLED materials.

According to the strategic Memorandum of Understanding the two companies will cooperate in developing high quality OLED displays. This also includes cross licensing concerning patented OLED-based technologies.

The Vice President of OLED Business at LG Display Dr. Ahn said that with this alliance LG Display will be able to develop high quality OLED products like OLED TVs, notebooks and Laptops for responding to the medium to large sized market for OLED business.

With the steady supply of OLED materials the company will be able to strengthen the R&D and production of OLED products. Thus, eventually the partnership will help to speed-up the growth of company’s emerging OLED business.

The agreement will be beneficial for Idemitsu as it will have LG Display as the steady customer by helping the company in developing improved technologies and commercializing the products.