OLED material firm P&H Tech has signed a long-term contract with US’ Dupont to supply them with long life OLED materials.
The deal is worth 7.1 billion won and lasts until 2028, the South Korean company said.
It signed the deal with Dupont’s subsidiary in South Korea.
P&H Tech will receive the 7.1 billion won, or US$6 million, fund upfront.
The material it plans to supply Dupont with can improve the life and luminance of OLED panels, the South Korean company said.
P&H Tech developed a long life blue OLED material recently. It started developing materials to extend OLED life back in 2018.
The use of its materials can extend OLED panel’s life by up to 20% to 30%, the company claimed.
Dupont currently supplies electronic materials to Samsung Display and LG Display.
P&H Tech had previously mostly supplied to LG Display but its recent deal with the US company means its materials will be used by both South Korean display panel makers.
The company is also developing long life OLED materials for red and green colors.