EWING, N.J. & SHANGHAI--(BUSINESS WIRE)--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced an OLED evaluation agreement through its wholly-owned subsidiary UDC Ireland Limited with Seeya Information Technology Co., Ltd (上海视涯信息科技有限公司). Under this agreement, Universal Display (UDC) will supply Seeya Technology with its proprietary UniversalPHOLED phosphorescent OLED materials for display applications. Details and financial terms of the agreement have not been disclosed.
“Today’s augmented reality and virtual reality products are a mere glimpse into the vast scope of this innovative technology’s great future, and we believe that our OLED microdisplay technology will play a strong role in the market’s future roadmaps,” said Tieer Gu, President and Chief Executive Officer of Seeya Information Technology Co., Ltd. “We are pleased to be working with Universal Display with its 20+ years of experience and know-how in the OLED ecosystem. Partnering and combining our strengths will lead to extraordinary, cutting-edge products for the consumer market.”
“We are pleased to be collaborating with Chinese Micro-OLED developer and manufacturer Seeya Technology,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “The augmented reality/virtual reality (AR/VR) market is an exciting and broadening consumer electronics segment. With its high contrast ratio, fast refresh, and versatile form factor, we believe OLEDs are the best display solution for this growing field. We are delighted to work with and support Seeya Technology with our state-of-the-art, highly-efficient, high-performing proprietary UniversalPHOLED materials.”
About Seeya Information Technology Co., Ltd
Seeya Technology, initiated in Shanghai in Oct 2016, focused on semiconductor-display technologies. Innovation in research, design, produces and deliver the production of display module in terms of the micro-OLED technologies. On September 1, 2017, Seeya announced plans to launch a manufacturing plant in Hefei, Anhui Province, with an investment of RMB 2 billion. The capacity is estimated to reach 20M pieces per year. Micro-OLED technologies’ advantages are widely known for its ultra-high resolution, higher dynamical contrast ratio, lower power consumption, integrated compatibility, higher reliability, flexibility in application, and etc. The art of Seeya’s products today can be found in various Near-to-Eye applications, such as HMD, smart glasses, EVF, VR, and AR. Additionally, Seeya products are able to be widely used in multiple prospective fields, which require specific ultra-tiny and ultra-high resolution display applications. Seeya delivers the art of display products or turn-key display solutions to satisfy the customers. To learn more about Seeya Technology, please visit http://www.seeya-tech.com.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in developing and delivering state-of-the-art, organic light emitting diode (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the Company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 4,800 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of low power 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/.
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All statements in this document that are not historical, such as those relating to Universal Display Corporation’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, 2017. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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