Universal Display to license OLED technology to Samsung unit

Reuters News
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Posted: Aug 23, 2011 9:14 AM

(Reuters) - LED maker Universal Display Corp said it will license certain technologies and sell materials to Samsung Electronics Co's display unit, sending its shares up 29 percent in premarket trade.

The agreements to license patents of organic light-emitting diodes (OLED) and sell materials will run through the end of 2017, Universal said in a statement.

Universal makes OLEDs, which are in short supply due to strong demand from high-end mobile gadgets such as smartphones and tablets.

Universal's shares were up at $44.80 in pre-market trade on Tuesday. They closed at $34.76 on Monday on Nasdaq.

(Reporting by Divya Sharma in Bangalore; Editing by Roshni Menon)