OLED screens are widely used in all sorts of products from mobile phones to digital picture frames and even TVs. The OLED screen uses less power and offers better colors making it a popular technology. Kodak and LG tied up in an agreement earlier this year that had Kodak providing OLED screens for LG products.
Last week Kodak announced that it would be selling its entire OLED business and all related assets to LG. The terms of the deal were not disclosed. Kodak says the sale will let it tighten its focus and strengthen its financials.
Kodak will continue to have access to OLED screens after the deal is complete. The sale is subject to customary closing procedures and will be complete by the end of the year if all goes well.