Corning and Samsung Mobile Display Form New OLED Glass Venture
Corning Incorporated (NYSE: GLW) and Samsung Mobile Display Co., Ltd. have signed an agreement to establish a new equity venture for the manufacture of specialty glass substrates for the rapidly 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 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.
