OLED unit of Kodak bought by LG Display

In an attempt to invest in the right places and secure their financial condition, Kodak has decided to sell off their OLED unit to LG Display.

However, Kodak will still be able to utilize the OLED technology in its new line of products. The end of 2009 will mark the closing of the deal.

The Manager of Kodak’s OLED business and Chief Intellectual Property Officer, Laura G. Quatela remarked that the company has been planning to “reposition” the OLED unit.

This would help the company to concentrate on other significant aspects. Developing the OLED Television business would call for sound investment. So, Kodak wants to handover the unit to a deserving company which can make the technology reach its full potential.

Chief Executive Officer and Chairman of East Kodak Company, Antonio Perez has said that Kodak is taking steps to maintain its status of a tough competitor. They want to focus on things that are under their control.