Cheil Industries is accelerating the company’s future strategic plan to become one of the world’s leading electronic materials companies following the Novaled acquisition.
Novaled has established a global position in OLED dopant technology and more than 60% of Novaled’s R&D personnel have Masters degrees or a doctorate. The German company has filed more than 530 patent applications for next-generation materials.
Combining Novaled’s OLED materials technology expertise with the production and synthesis capabilities of Cheil Industries will improve the company’s competitiveness in electronic materials sector for lighting materials, solar cell materials or electrode materials as well as OLED display materials.
Cheil Industries acquisition of Novaled forms part of the company’s long-term profit growth stategy.
The growth of OLED market is expected to have a positive impact on business performance from 2014.
Cheil Industries has successfully applied the Cheil-produced OLED materials of ETL to the latest mobile phone models such as Samsung Galaxy S4 and Galaxy Note 3 in April 2013. Cheil Industries has focused on developing next-generation OLED materials since 2005.
According to the recent report by Display Research, a display market research company, OLED has shown annual growth of 100% in the past three years and is expected to quickly expand the market in the future.
The industry authorities are expecting that it is only a matter of time to establish its position as the next-generation display owing to the excellent advantages of response speed 1,000 times faster than LCD, free angles, power-saving and color reproducibility although OLED materials are not widely used yet in general electronic products such as TV, tablet or PCs.
President Park, Jong Woo said: "The OLED technology of Novaled shall play a vital role in advanced materials business of Cheil Industries. Cheil Industries will fully invest and support for product development to lead global trends".
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.