All about OLED in one place, UBI Research, ‘3rd OLED KOREA Conference’ will be held

UBI Research plans to hold the 3rd OLED KOREA Conference with the theme of “Lessons from History and How OLED Can Evolve” at Novotel Ambassador Hotel on Mar. 8 (Wed) to 9 (Thu).

The OLED industry is expected to grow rapidly according to the adaption of full-driven OLED panels by Sony and Apple in 2017 and the competition among panels, equipment, and manufacturing companies can be intensified at the same time. It is necessary to understand and respond strategically to industry trends for successful business under such circumstances. The opportunities to share ideas and concerns each other and close exchanges between Industry-academic institute, panel, materials and equipment companies have been required. UBI Research has prepared a place to freely exchange various information and opinions through the 3rd OLED Korea Conference by reflecting such needs of the industry.

The Korea Conference will be an opportunity to analyze the past trends of OLED which the usage and application range is getting wider and to discuss the successful advancement and strategies to grow the OLED industry for the future. Therefore, it will be a valuable time to practically help the OLED industry.

The Presentation is planned by twenty-four (24) domestic/international experts related to OLED display such as set and panel makers, materials/equipment companies, university/research etc. including UBI Research, Samsung Display, Cynora and CEREBA about followings:

▲Exploring new opportunities with OLED and the preparation, ▲Possible directions and the reasoning for OLED, ▲Lessons from the history and how OLED can be evolved, ▲OLED and its collaboration, investigating the possibilities

We will establish the opportunity to contribute to the growth of the OLED industry based on the sharing of mutual opinions by preparing a networking space between the companies through luncheon during the conference period and breakfast with OLED reception.

Detail information can be found in www.oledkoreaconference.com

CYNORA Achieves a New Milestone in Efficiency and Stability of Blue TADF Emitters for OLEDs

CYNORA, a leader in TADF (thermally activated delayed fluorescence) materials, has developed new material classes that combine both, high efficiency and long lifetime, for blue emission. With these new achievements, the company is on track to reach the performance requested by the OLED industry. The commercialization of CYNORA´s TADF materials is therefore still planned for the end of 2017.

Earlier this year, in May 2016, CYNORA had established two blue emitter systems where one of them showed a high efficiency while the other showed a long lifetime. During the last 6 months CYNORA has made further, significant progress by combining high efficiency and long lifetime in a single blue emitter system. In an OLED device, the new blue material reaches 14% EQE (external quantum efficiency) together with a lifetime of 420h (LT80, at 500 cd/m2, λ < 480 nm). With this performance, CYNORA has now shown that blue TADF emitters can reach OLED display specifications soon.

“Our constant progress on blue TADF emitters was made possible by our growing team of TADF experts and by the close collaboration with CYNORA’s customers” says Thomas Baumann, CSO at CYNORA, “We have developed several classes of high performance TADF materials which we are currently optimizing for market readiness at the end of next year.”

CYNORA’s dopants are fully organic and designed for existing vacuum deposition. The company will adapt the blue TADF emitters for solution processing in a second step. With its blue TADF technology CYNORA will enable device makers to provide OLED displays with significantly increased energy efficiency and higher display resolution.

UDC & Tianma Enter into Long-Term OLED Patent License and Supplemental Material Purchase Agreements

Source = UDC

Source = UDC

Hyunjoo Kang / jjoo@olednet.com

Universal Display Corporation( UDC ), enabling energy-efficient displays and lighting with its  UniversalPHOLED technology and materials, today announced the signing of an OLED Technology License Agreement and Supplemental Material Purchase Agreement with Tianma Micro-electronics Co. Ltd., a leading Chinese small-and medium-size display panel manufacturer. The agreements run for five years.

Tianma is a leading player in AM-OLED technology and series production capacity in domestic China . In late May, Tianma demonstrated its latest OLED advances with a number of display prototypes at Display Week 2016 International Symposium, Seminar and Exhibition. Tianma has a Gen 5.5 AM -OLED line in Shanghai , which started producing AM-OLED modules for intelligent mobile terminals to brand clients this year. Tianma is also increasing its OLED investments to ramp up capacity for commercial mass production.

“We are very pleased to enter into these license and supply agreements with Tianma Micro-electronics, an early OLED developer and key Chinese display maker,” said Steven V. Abramson , President and Chief Executive Officer of Universal Display . “Tianma has been at the forefront of OLED R&D in China for a number of years, and we look forward to working with Tianma to advance their commercial OLED product pipeline with our proprietary OLED technologies and materials. Around the world, we believe that OLED research, development and investment activities are gaining tremendous ground, as consumer demand for cutting-edge, fast-response, thin, energy-efficient displays continues to rise, in products such as smartphones, wearables, tablets and automotive.”

Under the license agreement, Universal Display , through its wholly-owned subsidiary UDC Ireland Limited , has granted Tianma Micro-electronics non-exclusive license rights under various patents owned or controlled by Universal Display to manufacture and sell OLED display products. Additionally, Universal Display will supply phosphorescent OLED materials to Tianma Micro-electronics for use in its licensed products.

UDC Announces Q2 2016 Financial Results

Source = UDC

Source = UDC

Hyunjoo Kang / jjoo@olednet.com

Universal Display Corporation( UDC ), enabling energy-efficient displays and lighting with its Universal PHOLED technology and materials, today reported financial results for the second quarter ended June 30, 2016.

For the second quarter of 2016, the Company reported net income of $21.8 million, or $0.46 per diluted share, on revenues of $64.4 million. This includes $1.8 million of currency exchange loss related to the BASF OLED patent acquisition. For the second quarter of 2015, the Company reported a net loss of $11.8 million, or $0.25 per diluted share, on revenues of $58.1 million. The 2015 net loss reflected a $33.0 million write-down of inventory, primarily of an existing host material and associated work-in-process. Excluding this item and its associated $1.9 million reduction of income tax expense, adjusted net income for the second quarter of 2015 was $19.4 million, or $0.41 per diluted share (see “reconciliation of non-GAAP Measures” below for further discussion of the non-GAAP measures included in this release).

“Our second quarter 2016 revenues and net income increased year-over-year, and we maintained our strong margin profile. We are confident that the underlying growth fundamentals of our long-term outlook remain robust, but near-term, we expect our revenue growth will be delayed by about six months,” said Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of Universal Display.

Rosenblatt continued, “We expect strong revenue growth in 2017. At that time, new OLED production from the multi-year capital expenditure cycle is slated to start contributing to our revenues. Ahead of this wave of high-volume capacity, we have been working to expand and broaden our team and core competencies to advance our strategic initiatives and increase our competitive edge. We expect these initiatives, along with new OLED capacity, coupled with our pipeline of new materials, new technologies and new agreements, to bolster our long-term growth plan.”

Financial Highlights for the Second Quarter of 2016

The Company reported revenues of $64.4 million, compared to revenues of $58.1 million for the same quarter of 2015, an increase of 10.8%. Material sales were $22.3 million, down 8.3% compared to the second quarter of 2015, primarily due to a $2.0 million decline in host material sales. Royalty and license fees were $42.0 million, up from $33.7 million in the second quarter of 2015. The Company recognized $37.5 million in Samsung Display Co., Ltd. (SDC) licensing revenue in the second quarter of 2016, up from $30.0 million in the same quarter of 2015.

The Company reported operating income of $34.0 million in the second quarter of 2016, compared to an operating loss of $4.8 million for the second quarter of 2015. Excluding the inventory write-down of $33.0 million, adjusted operating income was $28.2 million for the second quarter of 2015. Operating expenses were $30.4 million, compared to $62.9 million in the second quarter of 2015 and cost of materials was $5.7 million, compared to $39.1 million in the second quarter of 2015, both of which included the inventory write-down of $33.0 million in the second quarter of 2015.

The Company’s balance sheet remained strong, with cash and cash equivalents and investments of $332.0 million as of June 30, 2016. During the second quarter, the Company added $96.0 million in intangible assets in the form of intellectual property purchases and certain other assets from BASF, increasing the portfolio to more than 4,100 issued and pending patents worldwide. During the second quarter, the Company generated $36.2 million in operating cash flow.

Financial Highlights for the First Six Months of 2016

The Company reported revenues of $94.1 million, compared to revenues of $89.3 million for the first half of 2015, or an increase of 5.4%. Material sales were $46.6 million, down 8.8% compared to $51.1 million in the first half of 2015, primarily due to a $7.0 million decline in host sales. Royalty and license fees were $47.4 million, up from $38.1 million in the first half of 2015.

The Company reported operating income of $36.7 million in the first half of 2016, compared to an operating loss of $3.1 million for the first half of 2015. Excluding the inventory write-down of $33.0 million, adjusted operating income was $30.0 million for 2015. For the first half of 2016, we reported net income of $23.8 million, or $0.51 per diluted share, compared to a net loss of $10.5 million, or $0.23 per diluted share, for the same period of 2015. Excluding the inventory write-down and the associated $1.9 million reduction of income tax expense, adjusted net income was $20.7 million, or $0.45 per diluted share, for the first half of 2015.

Operating cash flow for the first half of 2016 was $36.2 million, a decrease of 51.8% compared to $75.2 million for the first half of 2015 which included an upfront $42.0 million license and royalty payment.

2016 Guidance

While the OLED industry is still at a stage where many variables can have a material impact on its growth, based upon the most recent and best information on hand, the Company believes it is prudent to revise its 2016 revenues guidance. The Company now expects 2016 revenues to be in the range of $190 million to $200 million.

Dr. Andreas Haldi joins CYNORA as Chief Marketing Officer

Source = Cynora

Source = Cynora

Hyunjoo Kang / jjoo@olednet.com

CYNORA, a leader in blue TADF (thermally activated delayed fluorescence) materials, has appointed Dr. Andreas Haldi as its Chief Marketing Officer.

With his strong technical and business experience, Andreas Haldi will reinforce CYNORA in the forthcoming commercialization of its high performance blue OLED materials.

CYNORA is preparing the commercialization of its emitting materials for OLEDs. The company is hiring Andreas Haldi to further enhance its already good relationships with the major display makers and to now prepare with them the implementation of its materials in their products.

Andreas Haldi has close to 15 years of experience in the OLED materials field and profound knowledge of the Asian display market. Prior to joining CYNORA, Haldi held manager positions in R&D and sales at Novaled GmbH. For the last five years he was headquartered in Seoul, Korea, as Novaled’s representative in front of the major AMOLED display makers in Asia.

“I am very happy to get Andreas on board” says Gildas Sorin, CYNORA’s CEO. “We are preparing ourselves intensively for the commercialization of our blue emitters. Thanks to his proven skills on OLED and his experience in Asia, Andreas will help us to build up our success as a leading supplier for TADF materials.”

“I am looking forward to joining CYNORA” says Andreas Haldi, “CYNORA has shown its expertise and its impressive capability to progress rapidly during the last 8 months. CYNORA has a great potential to become key player in the OLED material industry.”

The appointment of the new CMO is a significant signal of CYNORA’s further development and its forthcoming market entry. Blue TADF-based emitters will enable a significant reduction of power consumption in OLED devices and will allow higher display resolution. CYNORA owns a broad IP portfolio with over 100 patent families and is aiming for over 600 patents.

UDC Announces Strategic Acquisition of Adesis

Source : UDC

Source : UDC

Hyunjoo Kang / jjoo@olednet.com

UDC announced today that it has entered into an agreement to acquire Adesis, Inc. Adesis is a privately held contract research organization (CRO) with 43 employees specializing in organic and organometallic synthetic research, development, and commercialization. Adesis is a critical technology vendor to companies in the pharmaceutical, fine chemical, biomaterials, and catalyst industries, and has worked with Universal Display over the last few years to help advance and accelerate a number of Universal Display’s product offerings.

“This acquisition is part of our strategic growth plan. We believe that it will provide additional highly-skilled resources to further advance our initiatives for the development and delivery of next-generation proprietary emissive material systems in the rapidly evolving OLED industry,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “Moreover, we expect it to enable us to leverage our twenty-plus years of experience in developing and commercializing cutting-edge chemistry technologies to help expand Adesis’ businesses across its end-markets including pharma, biotech and catalysis. We are delighted to welcome Dr. Andrew Cottone, President of Adesis, Dr. Ving Lee, Chief Scientific Officer, and the vastly experienced Adesis team to UDC.”

“We are very excited to become part of UDC and build additional synergies between both companies, and further enhance the growth of UDC’s OLED leadership,” said Andrew Cottone, President of Adesis, Inc. “In addition, we anticipate that Adesis will benefit from UDC’s financial and business acumen to better support our clients with world-class technology and expertise, and reinforce our positioning for continued growth as a specialty chemical CRO.”

Under the terms of the agreement, Universal Display will acquire all outstanding shares of Adesis, Inc. in a merger for approximately $36 million in cash. The transaction is expected to close in the third quarter of 2016, subject to customary closing conditions. Following the closing, Adesis will operate as a wholly-owned subsidiary of Universal Display Corporation. Andrew Cottone will continue as the President of Adesis, and Steve Abramson will become the Chairman of the Board of Adesis.

OLED Tail Light for First Time in Volume Produced Audi Cars

Source = Novaled

Audi car. (Source = Novaled)

Hyunjoo Kang / jjoo@olednet.com

R2D2, a joint project to analyze and to develop high-TRL processes and technologies for manufacturing of flexible OLED funded by the German Federal Ministry of Education and Research (BMBF) has been successfully completed. The goal was to work on OLED technology for reasonable priced OLEDs which could easily be employed to manufacture marketable products.

Meanwhile, AUDI AG is offering glass-based OLEDs in a high-volume production model for the first time as the tail lights for the TT RS. The transition to a production-ready OLED product has been achieved through the advances from the R2D2 project. “The R2D2 Project funded by BMBF has brought OLED technology in Germany a good deal further. Sectors beyond lighting and Automotive will follow suit. There are already prospective designs for household appliances and even for aircraft over the long term,” says Project Coordinator Dr May of Fraunhofer FEP. Besides FEP, also AUDI AG, Diehl Aerospace GmbH, HELLA KGaA Hueck & Co., OSRAM OLED GmbH, VON ARDENNE GmbH and Novaled were consortium partners.

Novaled was able to optimize the OLED layers and to develop and provide a set of materials to meet the challenging specifications of the automotive industry. Cost-effective solutions were devised. This included providing mass production stable materials for easy and efficient employment in mass production, as well as saving development time by generating methods that can ascertain the compatibility of new organic materials with manufacturing processes.

One of the success factors of R2D2 was that project partners could cover the whole value chain: from material research to equipment construction, component technology through application studies for future products.

The consortium would like to thank the German Federal Ministry of Education and Research (BMBF) for funding the project “R2D2” with a grant of 5.9 million Euros over a 30-month period.

UDC, net income $1.9 million for 1Q 2016…46% ↑ YoY

Source : UDC

Source : UDC

Hyunjoo Kang / jjoo@olednet.com

UDC (Universal Display Corporation), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today reported financial results for the first quarter ended March 31, 2016.

For the first quarter of 2016, UDC reported net income of $1.9 million, or $0.04 per diluted share, on revenues of $29.7 million, compared to net income of $1.3 million, or $0.03 per diluted share, on revenues of $31.2 million for the first quarter of 2015.

“In the first quarter, our commercial emitter revenues grew 8% year-over-year, primarily driven by strong green emitter shipments. Royalty and license fees increased by 22%. Host material sales, in line with expectations, declined year-overyear,” said Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of UDC

Rosenblatt continued, “The OLED landscape continues to expand. New OLED products are launching, capacity is building, equipment bookings are increasing and the pipeline of OLED design activities is broadening.

With OLED display penetration at only about 10% of the total consumer electronic display market, new applications like automotive, virtual reality, augmented reality and signage emerging and OLED lighting transitioning from development stage to commercial, we believe that our long-term growth trajectory remains strong.”

Financial Highlights for the First Quarter of 2016 The Company reported revenues of $29.7 million, compared to revenues of $31.2 million in the same quarter of 2015.

Material sales were $24.3 million, down 9% compared to the first quarter of 2015, primarily due to a $5.0 million decrease in host material sales. This decline was partially offset by an increase of $2.5 million in emitter material sales.

Royalty and license fees were $5.3 million, up from $4.4 million in the first quarter of 2015.

No revenue was recognized under the Samsung Display Co., Ltd. (SDC) licensing agreement in the first quarter, as SDC is obligated to make licensing payments in the second and fourth quarters of the year. For 2016, the Company expects to recognize $75 million in SDC licensing revenues for the full year.

The Company reported operating income of $2.5 million, up from $1.8 million for the first quarter of 2015. Operating expenses were $27.2 million, compared to $29.5 million in the same quarter of 2015.

Cost of materials was $5.1 million, compared to $8.6 million in the first quarter of 2015, reflecting the decline in host material sales volume, which have less favorable margins than the Company’s emitter materials.

The Company’s balance sheet remained strong, with cash and cash equivalents and investments of $395.7 million as of March 31, 2016.

Adoption of Idemitsu’s Material in LG’s OLED TV

Source : Idemitsu Kosan

Hyunjoo Kang / Reporter / jjoo@olednet.com

Idemitsu Kosan Co.,Ltd.´s (Head Office: Chiyoda-ku, Tokyo; Representative Director and CEO: Takashi Tsukioka, hereinafter “Idemitsu”) OLED material will be used for LG Electronics Japan Inc.´s (Head Office: Chuo-ku, Tokyo; President: In-gyu Lee) latest OLED TV which will be released in Japan this coming mid-May. An

An OLED TV is a next-generation television that has a display which eliminates the need for backlight, which is different from an LCD TV.

Eliminating the need for backlight makes it possible to not only provide a curved and super-thin display but to also represent jet black without being affected by the illumination of the backlight.

Idemitsu has studied and developed OLED materials since the 1980s and has a particular advantage in the development of high-performance blue light-emitting materials. In addition, Idemitsu also has many related patents and manufacturing plants in both Japan and South Korea, and supplies materials to a variety of manufacturers.

After the agreement to form a strategic alliance regarding the OLED business in 2009, Idemitsu and the LG Group concluded an agreement for mutual cooperation in the field of OLED technology and device-related patent licensing in December 2014.

As leading companies, each company has achieved results in product development through their active efforts in this field.

As a result of concluding the agreement, Idemitsu´s OLED material will be used for LG Electronics´ latest television to be released in Japan following the world´s first large high-definition OLED TV which was released by LG Electronics in 2013.

Both companies will continue to provide technical cooperation to develop materials and products that will popularize the use of OLED displays.