Media report claims Samsung takeover of Novaled imminent

Media report claims Samsung takeover of Novaled imminent

Business news |
By eeNews Europe

News service Bloomberg quotes a spokesperson of Korean Cheil Industries saying "We are internally reviewing plans to acquire Novaled, but no details have been set yet". Cheil Industries is the chemical and electronics materials unit of the Samsung Group. In any case, the closing of the transaction may come as early as this week, writes Bloomberg. The news service even quotes a purchase price of $200 for the OLED technology company. Samsung’s motivation to acquire Novaled could be the interest to gain control of the OLED production chain against the background of a trend towards thinner displays for TV sets and smartphones. Samsung already owns a stake of 10% of Novaled and is Novaled’s largest customer with a share of 53% of the company’s sales. Besides the form factor, OLEDs are also said to be 40% more energy efficient.

Novaled has been launched in 2001 as a joint spin-off of the Dresden Technical University and the Fraunhofer Institute.

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