Samsung and Corning signed an agreement over OLED Glass

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Corning, manufacturers of Gorilla Glass, and Samsung mobile display have an agreement to form a new venture to manufacture special OLED Glass.

Combining Corning’s Lotus Glass substrate technology and Samsung Mobile Display’s OLED display expertise, this new venture will possibly be utilized to manufacture flexible OLED glass. The newly formed entity will supply OLED backplane glass substrates for Samsung Mobile Display, as well as for the broader Korean market.

OLED displays revenues will exceed $4 billion in 2011 , and will reach more than $20 billion by 2018. OLED technology brings in brighter displays and is also power efficient.

“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.

Samsung will use this technology in upcoming TV and mobile displays.