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Benzinga
Benzinga
Business
Anusuya Lahiri

Samsung Snaps This OLED Company Reputed For Foldable Devices For $300M

Samsung Nasdaq Alphabet Inc Apple Intel Corporation Germany Intellectual Property
  • Samsung Display Co. scooped display company Cynora GmbH for $300 million, gaining technology for so-called OLED screens, Bloomberg reports.
  • Samsung acquired Cynora’s intellectual property and technology under the deal.
  • The Bruchsal, Germany-based company, terminated its workforce under the arrangement.
  • Samsung was already an investor in Cynora, with LG Electronics Inc (OTC:LGEJY) and other display manufacturers also backing the startup.
  • Samsung and other tech companies are known for their OLED screen offerings. However, Cynora specialized in making rigid versions of the displays for foldable devices, a market sought by Apple Inc (NASDAQ:AAPL), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), and others after Samsung.
  • Cynora is also known for its next-generation emitter technology for blue and green-based color reproduction. It could improve the power efficiency of displays and enhance the contrast between colors.
  • Due to robust demand from automotive and smartphone markets, Samsung dethroned Intel Corp (NASDAQ:INTC) as the top chip seller in 2021.
  • In the next five years, Samsung looks to invest 450 trillion won ($356 billion) to accelerate growth in semiconductors, biopharmaceuticals, and other next-gen technologies.
  • Photo Via Wikimedia Commons
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