Idemitsu Kosan and BOE Form Strategic Alliance for OLED Business
Idemitsu Kosan Co.,Ltd. and BOE Technology Group Co.,Ltd. have reached a basic understanding to form a strategic alliance for the development of high-performance OLED materials and displays.
BOE is world-famous as a supplier of IoT (Internet of Things) technologies, products and services, with its core business being Display Devices, Smart Systems and Healthcare Services. It is a top class display company in the industry, and is one of the largest shippers of display products in the world. In the first quarter of 2017, BOE ranked first in its number of shipments of TFT-LCD display for mobile phones, tablets and notebook, and second and third respectively in its number of shipments of TFT-LCD displays of all monitor TV. At the same time, BOE is also proactively working on OLED displays.
Both companies expect to enjoy the benefits of synergy effects in the OLED display field through this strategic alliance. In specific terms, Idemitsu intends to develop and supply high-performance OLED materials in accordance with BOE’s needs. This alliance is expected to strengthen both companies’ collaborative relationship in the OLED field, and increase their product appeal and competitive power in the market.
Until now, Idemitsu has formed several strategic alliances with other display manufacturers, which are similar to this initiative. Idemitsu also has entered into collaboration agreements with other OLED material manufacturers that allow each party to use the other party’s OLED material-related patents. From here on, Idemitsu hopes to actively promote the strengthening of relations with its major customers, and to contribute further to the development of the OLED industry, which has expanded remarkably in recent years.
Idemitsu says this matter will have no effect on the company’s consolidated financial performance for the 2017 fiscal year.