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August 28, 2006 –* Eastman Kodak Co. announced on Thursday that the company will license their organic light emitting diode (OLED) technology to panel illumination development company, Tohoku Device Co., Ltd. in Japan.
OLEDs are composed of thin organic films that emit light when charged by electricity, according to Kodak’s press release. OLEDs are known to be a cheaper and power-efficient alternative to traditional LCD backlights in cell phones, PDAs, media players, and digital cameras.
As part of the agreement, the royalty-bearing license will allow Tohoku to manufacture OLED flat panels based on Kodak’s technology. Tohoku joins 15 other companies with whom Kodak has existing OLED agreements.