Philips "Sells" LED Lighting Division, Sells OLED Light Source Components Business Again

　　In the coming months, Philips will establish a new company and transfer the core part of its OLED business, including the production equipment and related intellectual property located in Aachen, Germany. All equity of the new company will be sold to OLEDWorks. Once the new company is established, OLEDWorks will receive a brand licensing authorization from Philips to sell its OLED light source components products under the Philips brand.

　　OLEDWorks CEO David DeJoy stated: "Acquiring Philips' OLED lighting technology, manufacturing, and OEM sales channels can help us apply high-performance OLED light engines to a broader range of lighting panel products."

　　Philips Lighting CEO Eric Rondolat stated: "In order to follow Philips' strategic focus, we have decided to sell the OLED components business to a professional partner. This way, we can concentrate our business and resources on developing innovative smart lighting systems."