Kodak has announced that they’ll sell their OLED business to Korean multinational LG Electronics. Intrinsic financial details were not revealed but the move seems to strengthen Kodak’s financial position. The deal is expected to close by the end of this year and will allow the camera company to use its OLED technology in its products.
LG’s acquisition also indicates that they might launch AMOLED-equipped phones to combat Samsung’s wide AMOLED range.
LG had previously turned down to launch AMOLED phones citing “too expensive for general consumers”.
In other related news, Kodak and LG have also entered into a cross-licensing agreement allowing both the companies to access each other’s patent portfolio.