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.