- 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
