Samsung Display Acquires US Micro OLED Company for 290 Billion KRW

Strengthening XR Business
President Choi Juseon: "XR Devices Have Tremendous Growth Potential"

Samsung Display is acquiring the American organic light-emitting diode (OLED) company eMagin for approximately 290 billion KRW.

On the 17th (local time), eMagin announced on its website that it had agreed to sell the company to Samsung Display for $218 million (about 290.8 billion KRW) at $2.08 per share. The sale price includes a 10% control premium over eMagin's closing price of $1.89 per share the previous day.

[Photo by Samsung Display]

eMagin is the only OLED manufacturer in the United States and has been developing and producing micro OLEDs since 2001. The company's micro OLED displays are mainly applied to extended reality (XR) devices such as augmented reality (AR) and virtual reality (VR).

Samsung Display is interpreted to be proactively responding to the demand in the XR market through this acquisition. XR is one of the three new display markets that the Korean government aims to foster. Through the 'Display Industry Innovation Strategy' announced on the same day, the government stated that it will actively support expanding the market size of the three display sectors, including XR, transparent displays, and automotive displays, from $900 million last year to $15 billion by 2027.

Choi Ju-seon, CEO of Samsung Display, said, "We believe XR devices have tremendous growth potential in the future," adding, "By leveraging eMagin's technology, we can strengthen our XR-related business and provide innovative products to more customers."

The acquisition process is expected to be completed in the second half of this year after shareholder and regulatory approvals, and eMagin plans to continue its operations and facilities in the United States thereafter.

This content was produced with the assistance of AI translation services.