Idemitsu Kosan Co.,Ltd. (hereinafter "Idemitsu") and LG Display Co.,Ltd. (hereinafter "LGD") have formed a strategic alliance to develop high-performance OLED displays. The strategic alliance includes mutual collaboration on OLED Technology and cross license regarding patented technologies related to OLED.
Under this strategic alliance, Idemitsu will benefit from securing a global display leader as a customer by supplying high-performance OLED materials including device structure proposal to LG Display. On the other hand, LG Display will reinforce research, development and manufacturing of OLED products under this strategic alliance. This will accelerate growth of LG Display's OLED business, which is emerging as a new growth area in the display industry.
Additionally, both companies agreed on cross license regarding patented technologies related to OLED. Each company will be able to freely use the other company’s patents related to OLED.
Through this strategic alliance, both companies will be able to enjoy the benefits of reciprocal synergy in the field of OLED business and build a foundation to demonstrate leadership in the industry.
Dr. Byung-chul Ahn, Vice President, who heads the OLED Business at LG Display and Dr.Yoshihisa Matsumoto, Executive Director of Electronic Materials Department at Idemitsu agreed on Strategic Alliance for OLED in Tokyo.
[Comments from Dr. Yoshihisa Matsumoto, Executive Director of Electronic Materials Department at Idemitsu]
"We are very proud to forge a strategic alliance with the industry leader, LG Display. Through this agreement, we expect to consolidate a cross and tight relationship with LG Display and further strengthen Idemitsu's OLED technology and Business."
[Comments from Dr. Byung-chul Ahn, Vice President, who heads the OLED Business at LG Display]
"The agreement will not only fortify LG Display’s OLED business, but it will contribute significantly to our ability to respond to the mid to large-sized OLED market of notebook PCs and TVs over the mid to long-term. We have high hopes that this win-win relationship will bring major synergies to our respective OLED businesses."
LG Display Co.,Ltd. is a leading manufacturer and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels, OLEDs and flexible displays. The company provides TFT-LCD panels in a wide range of sizes and specifications for use in TVs, monitors, notebook PCs, mobile products and other various applications. LG Display currently operates eight fabrication facilities and five back-end assembly facilities in Korea, China and Poland. The company has a total of 27,000 employees operating worldwide.
Idemitsu has been researching and developing OLED materials mainly through the joint development activity with Sony since 2005, and also through the joint activity aiming at mobile phone with Toshiba Mobile Display in parallel. This alliance with LGD will additionally strengthen Idemitsu’s OLED materials business. Idemitsu is active in the protection and application of its intellectual properties in technology development and businesses. It retains a large number of critical patents regarding OLED technologies.
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For inquiries regarding this press release, please contact
Mr. Sato
PR Section IR&PR Office
Idemitsu Kosan, Co., Ltd.
Tel: +81-3-3213-3115
