Corning Inc. and Samsung Mobile Display Co. Ltd. recently announced they have signed an agreement to establish a new equity venture for the manufacture of specialty glass substrates for the organic light emitting diode (OLED) device market. The new business will be located in Korea.

Combining Corning’s Lotus™ glass substrate technology and Samsung Mobile Display’s OLED display expertise, this new entity is expected to provide product solutions for current and future OLED technologies. The newly formed entity will supply OLED backplane glass substrates for Samsung Mobile Display, as well as for the broader Korean market.

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

“Corning and Samsung have a long and successful partnership in the display industry, dating back nearly 40 years to the early days of television,” said Wendell P. Weeks, chairman, CEO and president of 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.”

For more information, visit www.samsungsmd.com or www.corning.com.