Kopin Corporation announced that it is sort-of spinning-off its OLED business unit. Some of Kopin's executive launched a new company called Lightning Silicon Technology, and Kopin licensed its technology to the company, and will also receive a 20% stake.
Lightning Silicon will focus on developing and supplying OLED microdisplays to the consumer AR and VR markets, and will produce its displays at China-based Lakeside Optoelectronics.
Kopin, for its part, hopes that this deal will help it to return to profitability by focusing its resources on new and existing defense, industrial and consumer applications.
Under the terms of the agreement, Lightning Silicon will receive a license to certain Kopin IP to develop, manufacture and sell OLED technologies for use in the consumer market. Kopin will receive an equity interest in Lightning Silicon and royalties from the sale of products related to the licenses. Kopin retains the ability and rights to develop, manufacture and sell OLED displays and complete optical solutions that include microdisplays to its core base in the defense and enterprise markets.
