Universal Display Continues Philips Relationship with Commercial Material Supply Agreement For OLED Lighting

Universal Display Corporation announced that it has broadened its Philips relationship to a commercial material supply agreement. With this, Universal Display will extend its supply agreement from the evaluation phase, to provide Philips with its proprietary PHOLED phosphorescent OLED materials and technology for use in its commercial OLED lighting products.

“We are excited to extend our working relationship with Philips, the global leader in lighting,” said Steven V. Abramson, president and CEO of Universal Display. “This is an important next step for UDC, from the earlier evaluation agreement we announced in November 2013. It demonstrates the continued acceptance of UDC’s phosphorescent OLED technology and materials by the emerging OLED lighting industry for high performance, energy-efficient solid-state lighting.”

Efficacy and color quality are key metrics in lighting. Universal Display’s proprietary PHOLED technology offers up to four times the efficiency of conventional OLED technology – a feature that is very important for energy-efficient solid-state lighting. UDC’s OLED technology and materials enable OLED lighting to have excellent color quality, making them very appealing and attractive sources of light.