Corning and the mobile display fraction of Samsung have announced their joint decision to begin manufacturing specialty glass substrate especially for organic light emitting diode devices. Enhancing its partnership of nearly thirty-five years with another fresh endeavor, both these companies have signed an agreement which is expected to result in the creation of a new equity venture.
The base for this latest project will be set up in Korea. For the purpose of this new development, the organizations are expected to bring together the Lotus glass substrate technology by Corning, which will be paired with the OLED display expertise provided by Samsung.
“Corning and Samsung have a long and successful partnership in the display industry, dating back nearly 40 years to the early days of television,†commented Wendell P. Weeks, chairman, chief executive officer, and president at Corning. “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.â€
This merger will primarily deliver OLED backplane glass substrates for the Galaxy range of smartphones as well as TVs employing the same technology. Along with this, it is also expected to create offerings for other products in the market like handheld gadgets, IT devices, and more.
The results of this Corning and Samsung merger should be seen taking shape somewhere in near future.
