Eastman Kodak (Rochester, New York / USA; www.kodak.com) is selling the assets associated with its organic light-emitting diode (OLED) display business to South Korea’s LG Display (www.lgdisplay.com). Kodak, a pioneer in the development of OLED displays, said it expects to complete the sale by year's end. The company will have continuing access to its OLED technology for use in its products.

The divestment will tighten Kodak’s investment focus and strengthen its financial position, the company stated. Earlier this year, Kodak said OLED was one of the businesses it wanted to transform. “This action is consistent with that strategy,” stated Laura Quatela, Kodak’s chief intellectual property officer. “Our OLED intellectual property portfolio is fundamental. However, realising the full value of this business would have required significant investment,” she remarked. Financial terms of the deal were not disclosed.