Cambridge Display Technology - Page 3

In November 2007 Sony has started to sell their 11" OLED TV (the XEL-1). This is an exciting move by Sony, but this cannot be considered a real commercial OLED TV. They are only producing 2,000 of those units monthly, the price is extremely high - around 1,800$ for a 11" TV (and Sony admits they are losing money on each unit). Even the power consumption of those TVs is rather high - higher than compatible LCDs.

But still Sony is clearly committed to OLEDs - and it seems like they are betting the future of their TV business on OLEDs. Sony were late to the Flat-Panel TV "party" and are no longer considered innovators. Now they are trying to be in the forefront of the technology again, and OLEDs is their technology of choice.

Data from spin coated devices using a common cathode and interlayer material demonstrate lifetimes for recently developed solution-processable green and red PLED materials of 78,000 hours and 67,000 hours, respectively, from an initial luminance of 1000 candelas per square meter, or cd/m2. This is equivalent to approximately 445,000 hours and 420,000 hours from an operating brightness of 400 cd/m² for these materials.

These latest lifetimes represent a 60% and 280% increase in performance for green and red materials over results that were announced in May and March of this year, respectively.

Total revenues for the second quarter of 2007 were $2.7 million, compared with $2.7 million for the same period last year. The increase in revenue for equipment and supplies caused by a major ink sale in the second quarter of 2007 was offset by slightly reduced license revenue.

Gross profit decreased from $2.4 million in the second quarter of 2006 to $1.9 million in the second quarter of 2007 due to lower margins in technology, services, development, equipment and supplies revenue.

"We will commercialize a display, which is not a TV, in 2008. Then in 2009 to 2010, we will strive to release an organic EL TV product." He explained that the color purity of emitted RGB light is equivalent to that of low-molecular organic EL materials.

"We consider developing not only materials but also application devices since we recently begun to know we can also extend a life and efficiency by changing the material's structure," he said, citing the green organic EL material's light-emitting efficiency as the company's current challenges to be addressed.

Sumitomo Chemical announced that it is going to acquire Cambridge Display Technology (CDT) for $12 per share in cash - for a total of around $285 million. This represents a 107% premium over CDT's 90-day average closing share price.

Sumitomo says that it is considering its display materials business as one of its strategically important business area and an area of focus for the business resources. They expect the OLED market to see considerable market growth in the future. Sumitomo is already collaborating with CDT.

Cambridge Display Technology has announced that it has been successful in its application for a 2006 Fast Track grant to develop electronic design automation software (EDA) for use in organic TFT-based (OTFT) electronic applications. This not only marks the entry of CDT into the OTFT space but will also be important in the development of displays using OTFTs, in particular flexible displays based on plastic substrates.

The project will extend the use of EDA software to organic semiconductor (OSC) materials, and accelerate the development of low-cost fabrication techniques for organic displays on both flexible and rigid substrates. It will enable the faster development of advanced structures, devices and circuits and expand the application space for organic electronics.

Cambridge Display Technology entered into a patent license agreement with a major Japanese chemical company. The scope of the License encompasses certain light emitting polymer ("LEP") devices.

The Licensee will pay an upfront fee to CDT within sixty days of the effective date of the agreement (which fee has already been received) and will also pay royalties based on its sales revenues for products which incorporate LEP technology. The Licensee will be obligated to pay CDT a minimum royalty after a period of time after commercialisation by the Licensee of products which incorporate LEP technology. The License is terminable by the Licensee on 12 months' notice.

Cambridge Display Technology (CDT) today announced that in collaboration with Thorn Lighting and the University of Durham, the Company has been awarded a GBP1.6 million grant by the UK Department of Trade and Industry-led Technology Programme. The grant will part fund a three year project to develop solution processable organic materials and device architectures suitable for large area white lighting applications. The total project cost is GBP3.3 million.

Under terms of the grant, CDT, through its Sumation joint venture, will provide materials, device architecture and testing, modeling, and technical input. The project is aimed at developing materials and devices for solid-state, high efficiency lighting applications based on CDT's patented PLED technology. Light emitting polymer materials can be solution processed and offers the potential of low cost manufacturing for large lighting panels. Successful completion of this project will offer novel lighting products with environmental benefits.

The 160 ppi three inch full color display incorporates CDT's PLED technology and was produced by CDT using a Litrex Gen 2 inkjet printer on amorphous Si TFT substrates provided by Casio. The company stated that since starting the project in fall of 2006, CDT has been able to demonstrate that it can achieve the accuracy required to produce the displays over 14-inch substrates.

The achievement of printing 160 ppi high resolution is the combination of Casio backplane design, Litrex printer droplet accuracy, CDT's know-how on ink formulation, and optimized print strategy.

Cambridge Display Technology and Sumation are pleased to announce new and improved results for green and blue PLED materials.

Data from spin coated devices using a common cathode and a recently developed solution processable green PLED material demonstrate lifetimes(1) of 50,000 hours from an initial luminance of 1000 candelas per square meter, or cd/sq.m. This is equivalent(2) to over 285,000 hours from an operating brightness of 400cd/sq.m for this material and represents a 40% increase in lifetime compared to results announced on March 27, 2007.