Corning and Samsung Mobile Display have signed an agreement to establish a new equity venture for the manufacture of specialty glass substrates for the rapidly expanding 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 projected to be well-positioned to provide product solutions for current and future OLED technologies, from handheld and IT devices to large TVs and beyond. The newly formed entity will supply OLED backplane glass substrates for Samsung Mobile Display, as well as for the broader Korean market.

According to a recent NPD DisplaySearch report, OLED technology advanced rapidly in 2011, setting a trend that is forecasted to continue through this decade. They estimate that 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 OLED TV technology introduced in January at the 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 new Lotus™ Glass substrates, which deliver the higher processing temperatures and improved dimensional stability needed to produce the new 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,” said Soo In Cho, Samsung Mobile Display’s president and chief executive officer.

Tags: Samsung, OLED