Kodak announced that they will sell their OLED business unit to LG Display.
This move will tighten Kodak’s investment focus and strengthen its financial position.
Kodak will have continuing access to its OLED technology for use in its products. Subject to customary closing conditions, the transaction is expected to close by the end of the year.
“As we said earlier this year, OLED is one of the businesses we wanted to reposition to maximize Kodak’s competitive advantage at the intersection of materials and imaging science,” said Laura G. Quatela, Kodak’s Chief Intellectual Property Officer and manager of the company’s OLED business. “This action is consistent with that strategy. Our OLED intellectual property portfolio is fundamental; however, realizing the full value of this business would have required significant investment.”
