Kodak to Sell OLED Biz to LG

It looks like Kodak is passing up on their OLED product line for now with reports that they have sold their OLED business to LG Electronics. OLED screens are widely used in most digital products since they use less power. Among the products they are popular for include mobile phone screens, digital picture frames, projectors and TV sets. The entire OLED business of Kodak will be transferred to LG including all associated assets.

The deal is still undergoing customary closing procedures but is expected to be done by the end of the year. No terms were disclosed but it looks like Kodak intends to tighten its focus and address its financial stature. Kodak will continue to have access to OLED screens after the deal is complete.

(Source) Slippery Brick