Subjects: Contract/Agreement, Product/Service
Wuhan China Star Optoelectronics Semiconductor Display Technology Co., Ltd. and Universal Display Corporation Enter into Long-Term OLED Agreements
Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, and Wuhan China Star Optoelectronics Semiconductor Display Technology Co., Ltd. (????), today announced the signing of a new OLED Technology License Agreement and Supplemental Material Purchase Agreement. Under the long-term agreements, UDC will supply phosphorescent OLED materials to Wuhan China Star Optoelectronics for use in display products through its wholly-owned subsidiary UDC Ireland Limited. Details and financial terms of the agreements have not been disclosed.
"We are pleased to collaborate with Universal Display to bring cutting-edge, best-in-class OLED products to our customers," said Yong Zhao, General Manager of Wuhan China Star Optoelectronics Semiconductor Display Technology Co., Ltd. "This is an exciting time in the industry and as a leader, we are committed to investing in the next-generation of display technology. With our new state-of-the-art flexible OLED fab, we are well positioned to become a key OLED manufacturing partner in China and around the world."
"We are pleased to enter into these long-term OLED license and material agreements with Wuhan China Star Optoelectronics, a leading Chinese panel maker that recently opened its first Gen-6 OLED manufacturing plant," said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. "With the solid OLED market trajectory, we are continuing to build on the depth and breadth of our experience and know-how and are innovating and developing the best OLED emissive layer materials to enable our customers' product roadmaps. We look forward to expanding our partnership with China Star Optoelectronics and further enabling them with our highly-efficient, high-performing proprietary OLED technologies and UniversalPHOLED materials. We would like to also thank the outstanding teams of both companies that worked diligently on these agreements while managing the challenges presented by current events. Our thoughts and well wishes are with the global community during this unprecedented period."
About Wuhan China Star Optoelectronics Semiconductor Display Technology Co., Ltd.
Founded in October 2016, Wuhan China Star Optoelectronics Semiconductor Display Technology Co., Ltd., is a leading player in the display industry with 18 billion RMB in registered capital. The high-tech company's product portfolio consists of cutting-edge small and medium size displays and is located in Donghu Hi-tech Industry District, Wuhan, China.
China's first Gen 6 flexible LTPS-AMOLED production line was constructed by Wuhan China Star Optoelectronics. This landmark project positioned CSOT for the era of flexible displays. The company leverages advanced technologies, including flexible substrates, flexible LTPS backplanes, OLED, flexible touch control and flexible covers, to produce high-resolution, conformable, flexible and foldable display panels. To learn more about Wuhan China Star Optoelectronics Semiconductor Display Technology Co., Ltd., please visit http://www.szcsot.com/.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of low power and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.
Headquartered in Ewing, New Jersey, with international offices in China, Hong Kong, Ireland, Japan, South Korea and Taiwan, and wholly-owned subsidiary Adesis, Inc. based in New Castle, Delaware, Universal Display works and partners with a network of world-class organizations. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the impact of the COVID-19 pandemic on the Company and otherwise, Universal Display Corporation's technologies and potential applications of those technologies, the Company's expected results and future declaration of dividends, as well as the growth of the OLED market and the Company's opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation's current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation's periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled "Risk Factors" in Universal Display Corporation's Annual Report on Form 10-K for the year ended December 31, 2019 and its subsequent Quarterly Reports on Form 10-Q. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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