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Friday, February 3, 2012

Corning and Samsung form new OLED glass business

Speciality glass business Corning and Samsung Mobile Display, part of the Samsung group, have signed an agreement to set up a new business that’ll produce glass substrates for the organic light emitting diode (OLED) device market. The new business will be based in South Korea and will supply OLED backplane glass substrates for Samsung Mobile Display and the broader market, from handheld devices to televisions.

Wendell P Weeks, Corning’s chairman, CEO and president, said “Corning and Samsung have a long and successful partnership in the display industry, dating back nearly 40 years to the early days of television. The strength of our business relationship is built on Corning’s ability to develop and make high-technology glass with the key attributes that enable Samsung’s next-generation displays. Together, we have led the evolution of displays – from the high-growth years of CRT, to our current successful business supplying world-leading substrates for today’s high-definition LCD TVs, and now to the launch of this important new venture to advance OLED technology.”

Samsung and Corning already have a number of supply agreements in place, including the Samsung Corning Precision Materials company formed in 1995.

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