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Friday, February 03, 2012
Corning and Samsung Mobile Display Form New OLED Glass Venture

Corning and Samsung Mobile Display have signed an agreement to establish a new equity venture for the manufacture of specialty glass substrates for the expanding organic light emitting diode (OLED) device market.

The new business will be located in Korea.

"Combining Corning's Lotus Glass substrate technology and Samsung Mobile Display's OLED display expertise, this new entity will be well-positioned to provide outstanding product solutions for current and future OLED technologies, from handheld and IT devices to large TVs and beyond," the companies said in a statement.

The newly formed entity will supply OLED backplane glass substrates for Samsung Mobile Display, as well as for the broader Korean market.

According to a recent NPD DisplaySearch report, OLED technology advanced rapidly in 2011, setting a trend that is forecasted to continue through this decade. They estimate that OLED display revenues will exceed $4 billion in 2011 (approximately 4% of flat panel display revenues), and will reach more than $20 billion (approximately 16% of the total display industry) by 2018.

Samsung is playing a leading role in this emerging market through its Galaxy mobile device products and Super OLED TV technology introduced in January at the International Consumer Electronics Show. Corning's advanced glass technology development includes a strong focus on high-performance displays. Most recently, this focus has been demonstrated through Corning's new Lotus Glass substrates, which deliver the higher processing temperatures and improved dimensional stability needed to produce the new high performance displays.

Corning, Samsung Corning Precision Materials Co., Ltd. (SCP), and the AMLCD division of Samsung Electronics Co., Ltd. (SEC) also today renewed their the two main agreements for their businesses for five more years,

This license agreement was effective beginning in January, 2012 and continues the 17-year equity venture?s position as a supplier of glass substrates to Korea's LCD industry. Samsung Corning Precision Materials is a equity company formed by Corning and Samsung in 1995.

Samsung Corning Precision Materials is the majority supplier of the Corning EAGLE XG glass to SEC. Samsung Corning Precision Materials also supplies LCD substrates to other display manufacturers in Korea.

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