Universal Display Corporation, Which supports Energy-efficient Displays and lighting with UniversalPHOLED® technology and materials (Nasdaq: Tianma Microelectronics Co.,Ltd.(SZ.000050) and Tianma Microelectronics Co.,Ltd.(SZ.000050), a leading Display panel manufacturer in China, today announced the extension of their long-term OLED material supply and licensing agreement. Under the new agreement, Universal Display, through its wholly owned subsidiary UDC Ireland Limited, will continue to supply Tianma microelectronics with proprietary phosphorescent OLED materials and technology for many years to come. Further details of the new agreement and financial terms were not disclosed.
Tianma Microelectronics and Universal Display Corporation (UDC) signed a long-term agreement for OLED patent licensing and material procurement for a multi-year period in 2016. The extension of these agreements ensures continued collaboration and a productive partnership between the two leading OLED ecosystem companies. At present, Tianma Wuhan G6OLED plant is in the fast-climbing stage of production capacity, with a total investment of 48 billion yuan. Tianma 6 generation flexible OLED project has been fully capped. UDC will continue to supply Tianma with cutting-edge, high-performance, efficient phosphorescent materials and OLED technology to support Tianma's plan to provide first-class, energy-efficient OLED display devices to OEM customers and consumers around the world.
Steven V. Abramson, President and CHIEF Executive Officer of Universal Display Corporation, said, "We are pleased to extend our long-term agreement with Tianma Microelectronics and further strengthen our partnership full of innovation, collaboration and excellence. Tianma is expanding its leadership position in small and medium-sized display devices, and xiamen Tianma's new 6th generation OLED production line is expected to support its further growth. We are pleased to continue our good partnership with Tianma to provide them with our current and next-generation leading OLED technologies and materials solutions. "Our reliable quality ensures on-time delivery, enabling OLED products to achieve higher energy efficiency at lower cost."
