Kodak Sells OLED Business to LG

By Peter Ha on December 4, 2009 in Techland News.

Times are tough and $1000 digital photo frames just aren't flying off the shelves fast enough for Kodak. In not so random twist of fate, Kodak announced that they would be selling off their OLED business to LG.

“As we said earlier this year, OLED is one of the businesses we wanted to reposition to maximize Kodak's competitive advantage at the intersection of materials and imaging science,” said Laura G. Quatela, Kodak's Chief Intellectual Property Officer and manager of the company's OLED business. “This action is consistent with that strategy. Our OLED intellectual property portfolio is fundamental; however, realizing the full value of this business would have required significant investment.”

In another announcement made by Kodak this morning, the two companies have agreed to enter a technology cross-license agreement. Because Kodak still thinks a $1000 OLED digital frame is a must-have. Or the fact that Kodak will gain royalties from LG doesn't hurt.