US firm Eastman Kodak has sold its OLED business to South Korea's LG.
The move comes in spite of recent progress the US company made in developing OLED materials and the company's stated commitment to opportunities in the OLED lighting market.
While the value of the deal has not been revealed, Kodak does stand to benefit from royalty payments for the use of its OLED technology, reveals CNN Money.
Both companies will also be able to access each other's patent portfolios as part of the deal, which is due to be completed by the end of 2009.
Documents and links
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CNN Money
News report on the Kodak and LG deal
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Kodak press release
The company announces the sale of its OLED business to LG
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Kodak OLED
Explanation of Kodak’s OLED technologies and the latest OLED-related news from the company
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