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Universal Display's CEO Hosts Annual Meeting Of Shareholders Conference (Transcript)

Let me tell you a little bit about what an OLED is. OLED is a series of reactions formed between two conductors; glass made; we saw with a substrate, glass, plastic or metal foil. In plastic you need a thin film encapsulation guard of layers; you’ll see black and you’ll have purple; if you are on a purple because those are the business areas that we are focusing on. Then put an (inaudible) down, we have a whole injecting material, a whole transforming material and the emissions layers static material.

The emission layer that’s also purple and comprise a host and (inaudible) and the best analogy is on the chocolate milk, where the host is the milk and the chocolate is the derivative where you put a little bit of the chocolate and a little bit of the derivative and you mix it, and to the host over the milk and it creates chocolate milk. We initially saw just the emitters. We have over the last few years for each one host material as well. You have an EPL, a cathode, glass, plastic or thin film encapsulation again. You seal it up and you attach it to a power switch.

That is an OLED, it can't get much simpler. Now this entire area is called the organic stack; that entire area is 1/1000th the thickness of a human hair. But you see the new display and lighting elements are an OLED is basically as flat as the glass or plastic or metal foil that you put it on, makes it also to be flexible and transparent.

The market is really growing. This past year, this is display chart estimate, that’s $3.5 billion, more than double from 2010. What we are seeing with these markets projections are really interesting; you see in 2018 we are now projecting $34 billion. Six months ago if we look at the market projection, they would have been lower.

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