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Tianma Micro-electronics and Universal Display Corporation Extend Long-Term OLED Agreements
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Rhea-AI Summary
Universal Display Corporation (Nasdaq: OLED) has extended its long-term OLED material supply and license agreements with Tianma Micro-electronics Co., Ltd. for another multi-year term. The extension strengthens the collaboration between the two companies, which began in 2016. Tianma is expanding its OLED manufacturing capabilities, including a new $7.5 billion plant in Xiamen. Universal Display will continue providing its high-efficiency phosphorescent materials to support Tianma's growth in energy-efficient display solutions for various markets.
Positive
Extended agreements with Tianma Micro-electronics reinforce long-term partnership.
Tianma's $7.5 billion OLED plant in Xiamen supports anticipated growth.
Universal Display continues to supply high-performance OLED materials.
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None.
EWING, N.J.--(BUSINESS WIRE)--
Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, and Tianma Micro-electronics Co. Ltd. 天马微电子股份有限公司 (SZ.000050), a leading Chinese display panel manufacturer, today announced the extension of their long-term OLED material supply and license agreements. The agreements extend Universal Display’s supply of its proprietary phosphorescent OLED materials and technologies to Tianma Micro-electronics through its wholly-owned subsidiary UDC Ireland Limited for an additional multi-year-term. Further details and financial terms of the extended agreements have not been disclosed.
Tianma Micro-electronics and Universal Display Corporation (UDC) entered into long-term, multi-year OLED patent license and material purchase agreements in 2016. The extension of these agreements ensures the continued collaboration and fruitful partnership between two leading companies in the OLED ecosystem. Tianma is currently expanding its Gen 6 OLED facility in Wuhan and readying its new 48 billion yuan (US$7.5 billion) OLED manufacturing plant in Xiamen for commercial mass production. UDC will continue to supply its leading-edge, high-performing, and highly efficient phosphorescent materials and OLED technologies to support Tianma’s initiatives for delivering best-in-class, energy-efficient OLED displays to OEM customers and consumers around the world.
“We are pleased to extend our long-term agreements with Tianma Micro-Electronics and further bolster our partnership of innovation, collaboration and excellence,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “Tianma is broadening its leadership in the landscape of small-and-medium displays, and its new Gen 6 OLED fab in Xiamen is expected to support their growth. We are delighted to continue our great partnership with Tianma, providing our full suite of current and next-generation state-of-the-art OLED technologies and material solutions with trusted quality and assured delivery, and enabling added power savings to OLED products cost-effectively.”
About Tianma Micro-electronics Co. Ltd. 天马微电子股份有限公司
Tianma Microelectronics Co., Ltd. (Tianma) was founded in 1983 and has been publicly listed on the Shenzhen Stock Exchange since 1995 (SZ. 000050). Tianma specializes in providing customized display solutions and efficient support services worldwide. Tianma has manufacturing facilities in Shenzhen, Shanghai, Chengdu, Wuhan, Xiamen, and Japan. In addition, Tianma has a well-established global marketing and technical support network, including branch offices in the United States, Germany, Japan, Korea, Taiwan, and Hong Kong, to ensure seamless global support to our customers.
Tianma is committed to providing leading technology and quality displays to the consumer display market for smartphones, tablets, and laptops, and the professional display market for automotive, medical, POS, and HMI applications. Tianma also provides solutions to emerging markets for intelligent home, smartwatch, AR/VR and UAV. Tianma is committed to continuous technology innovation, superior customer service, and the best products for different applications.
Tianma has a comprehensive production footprint, from Gen 2 to Gen 6 TFT-LCD (a-Si, LTPS), Gen 5.5 AMOLED and Gen 6 LTPS-AMOLED. The sales of G5.5 and G6 LTPS line in Xiamen are very good. The product portfolio of Shanghai Tianma G5.5 AMOLED line is upgraded continuously. The G6 LTPS-AMOLED line in Wuhan is formally commercialized and shipping to brand customers. Xiamen Tianma Display Technology is currently moving in core equipment to build a G6 flexible AMOLED fab. This fab will enhance Tianma’s leading position in the high-end of small and medium-size display, and enables Tianma to be in the top 3 of worldwide AMOLED capacity.
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 and with subsidiaries and offices around the world, 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 energy-efficient 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. 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 Company’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, 2020. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
What is the recent news related to Universal Display Corporation (OLED)?
Universal Display Corporation has extended its OLED material supply and license agreements with Tianma Micro-electronics for multiple years.
How will the agreement extension affect Universal Display Corporation's business?
The extension ensures continued collaboration in OLED technologies and materials, potentially enhancing Universal Display's revenue from ongoing sales.
What are Tianma Micro-electronics' plans for OLED manufacturing?
Tianma is expanding its Gen 6 OLED facility in Wuhan and launching a new $7.5 billion manufacturing plant in Xiamen.
What impact does the agreement have on OLED supply?
The agreement guarantees ongoing supply of proprietary phosphorescent OLED materials from Universal Display to Tianma.
When were the original agreements between Universal Display and Tianma established?
