In conjunction with its affiliate Cheil Industries, Samsung is buying German based OLED manufacturer Novaled to help meet the company’s demands for OLED screens. The $347 million deal will leave Samsung Electronics owning 40 percent of Novaled, Chiel Industries with 50 percent, and the last 10 percent will remain in the hands of Samsung’s venture capital unit.
“Through the acquisition of Novaled, Cheil Industries strengthens its leading position in the field of electronic materials, and we are able to achieve significant synergies in research and development of OLED material of the next generation.” – Cheil Industries CEO Jong-Woo Park
Samsung has faced OLED production issues in the past with its 55-inch OLED TVs, and this deal will help the company increase production of its high-end TVs as well as other mobile devices.
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