Samsung And Corning Embark On An OLED Joint-venture

By 09:16 Tue, 13 Jul 2021 Comments

Yesterday Corning and Samsung announced that they would be teaming up to provide a product that plays to each of the companies strengths.

Samsung, who alongside their mobile devices are famed for a pretty reputable display manufacturing arm, have joined forces with Corning, best known for their super scratch an shatter resistant Gorilla Glass, which features on a vast number of smartphones and tablets currently on the market.

Corning stress testing some of their most impressive works

The two names are planning to develop and manufacture a recent specialty glass substrate to accommodate the quick expanding Organic Light-Emitting Diode (OLED) market, under the product name of 'Lotus Glass'.

Samsung already have some fine examples of Organic Light-Emitting Diode (OLED) technology under their belt, including the likes of the Samsung Galaxy S II's Super AMOrganic Light-Emitting Diode (OLED) Plus and of course their range of Organic Light-Emitting Diode (OLED) televisions too.

The combined forces of these two names will produce an Organic Light-Emitting Diode (OLED) backpane glass substrate for utilize by Samsung and, as the press release states "the broader Korean market", which could involve the purchase of such a product to companies like LG.

The reasoning behind the joint venture is thanks in-part to Samsung's previous already prevalent presence in the display market.

Organic Light-Emitting Diode (OLED) technology-based revenue was expected to exceed $4 billion in 2011 and by 2018 is expected to reach more than $20 billion (or approximately 16% of the total display industry).

So expect the pair to be riding high within the mobile display market over the next few years as this match, looks to be made in heaven.

Keep on reading for the official press release:

Corning and Samsung Mobile Display Form New Organic Light-Emitting Diode (OLED) Glass Venture

New business expands Corning’s long-standing collaboration with Samsung

CORNING, N.Y., February 02, 2012 – Corning Incorporated (NYSE: GLW) and Samsung Mobile Display Co., Ltd. have signed an agreement to establish a recent equity venture for the manufacture of specialty glass substrates for the rapidly expanding organic light emitting diode (OLED) device market. The recent business will be located in Korea.

Combining Corning’s Lotus™ Glass substrate technology and Samsung Mobile Display’s Organic Light-Emitting Diode (OLED) display expertise, this recent entity will be well-positioned to provide outstanding product solutions for current and future Organic Light-Emitting Diode (OLED) technologies, from handheld and IT devices to large TVs and beyond.

The newly formed entity will supply Organic Light-Emitting Diode (OLED) backplane glass substrates for Samsung Mobile Display, as well as for the broader Korean market.

According to a recent NPD DisplaySearch report, Organic Light-Emitting Diode (OLED) technology advanced rapidly in 2011, setting a trdiscontinue that is forecasted to continue through this decade. They estimate that Organic Light-Emitting Diode (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.

Samsung is playing a leading role in this emerging market through its Galaxy mobile device products and Super Organic Light-Emitting Diode (OLED) TV technology introduced in January at the International Consumer Electronics Show. Corning’s ongoing advanced glass technology development includes a strong focus on high-performance displays. Most recently, this focus has been demonstrated through Corning’s recent Lotus™ Glass substrates, which deliver the higher processing temperatures and improved dimensional stability needed to produce the recent high performance displays.

"Samsung Mobile Display has led the global display industry by constantly seeking innovations and challenging current technologies' limits. We are confident that combining our business powers with Corning's technology leadership will deliver greater value to our clients,” assumed Soo In Cho, Samsung Mobile Display’s president and chief executive officer.

“Corning and Samsung have a long and successful partnership in the display industry, dating back nearly 40 years to the early days of television,” assumed Wendell P. Weeks, Corning’s chairman, chief executive officer, and president. “The strength of our business relationship is built on Corning’s ability to develop and create 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 Liquid Crystal Display (LCD) TVs, and now to the launch of this vital recent venture to advance Organic Light-Emitting Diode (OLED) technology,” Weeks stated.

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