Kodak, Sanyo form Joint Venture to Manufacture OLED Displays

ROCHESTER, NY, Dec. 7 -- Eastman Kodak Co. and Sanyo Electric Co. Ltd. have formed a joint venture, the SK Display Corp., to manufacture organic light emitting diode (OLED) displays for consumer devices such as cameras, PDAs and portable entertainment machines.

Under the agreement, Kodak will hold a 34% stake in the company and make available its OLED manufacturing technology and OLED patent portfolio. Kodak will commit about $125 million in cash and loan guarantees over the next two years. Sanyo will hold a 66% stake and make available its leading low-temperature polysilicon thin-film transfer technology and manufacturing capabilities. SANYO will commit about $225 million in cash and loan guarantees. Manufacturing will be based at a new plant in Japan dedicated to active-matrix OLED displays. Each company will market and sell the displays.