Universal Display’s stock rose 2.1% in premarket trading on Wednesday after the company unveiled OLEDX, a new OLED device architecture aimed at maximizing light extraction and efficiency.
The NASDAQ-listed shares (OLED) were last indicated at $85.72, up $1.27 or 1.50%, following the announcement made during a presentation at the International Meeting on Information Display in Busan, South Korea. The company’s stock had closed at $84.45 on Tuesday, down $2.19 or 2.53%.
OLEDX is designed to address industry challenges by redirecting trapped light into usable output through a transparent cathode, reflective anode, and nanoparticle outcoupling layer. The architecture aims to enable the extraction of 100% of light from an OLED while supporting ultra-wide viewing angles and customizable efficiency profiles. Universal Display stated the technology is compatible with existing OLED manufacturing approaches and does not require new production methods.
Steven V. Abramson, President and CEO of Universal Display, said the company’s phosphorescent technology previously transformed the OLED industry by making every electrical charge count. "OLEDX is designed to make every photon count," he added. Dr. Julie Brown, Executive Vice President and Chief Technical Officer, noted the platform expands the OLED design space and provides panel makers with greater flexibility to optimize display performance for different applications and user experiences.
Founded in 1994, Universal Display develops and commercializes OLED technologies and materials. The company holds exclusive licenses or sole rights to sublicense more than 7,000 patents issued and pending worldwide, covering its phosphorescent OLED technology and the new OLEDX architecture.
