DUBLIN-- February 23, 2021 -- Solas OLED Ltd. (“Solas”), an Irish company that specializes in OLED technologies that it licenses to consumer electronics manufacturers, has announced that it has entered into a Settlement and License Agreement with LG Display Co. resolving a number of patent infringement actions brought by Solas against LG Display and a certain number of its customers, including Sony Corporation. While the terms of the agreement are confidential, it brings to an end the respective patent litigation between Solas and LG, including counter-actions, concerning Solas’ OLED technology in Germany, China and the United States.

Aoife Butler, General Counsel of Solas, commented: “We are very pleased that LG Display has taken a license to the Solas patent portfolio. The patent license not only frees up the OLED TV marketplace for LG Display, but also for the customers of its OLED panels, including Sony and Panasonic. It does not, however, include Samsung, which continues to market infringing OLED products, including tablets, watches and phones. In addition to a recently instituted action brought in the United States International Trade Commission against Samsung and BOE, Solas is now focused on the upcoming patent infringement action scheduled for trial against Samsung to begin on March 1, 2021 in the United States District Court for the Eastern District of Texas. The licensing of the Solas patent portfolio means that the true innovators, which includes in this case scientists at Stuttgart University, are recognized for their ingenuity and the University is participating in the great success of the protected technology so that it can continue to create and develop exciting new technologies.”