Display - Chi Mei Founds OLED Subsidiary
September 22, 2004
Chi Mei Optoelectronics has officially established CMEL (Chi Mei Electroluminescence), a subsidiary formed from its OLED (Organic Light Emitting Diode) R&D team.
The new company is fully invested by Chi Mei, with a starting capital of NT$400 million (US$11.8 million; US$1 = NT$33.9) and an additional NT$1.5 billion (US$44.2 million) investment from Chi Mei in the near future.
In January 2004, Chi Mei authorized its OLED technology to Kyocera, in the hope of advancing further cooperation between Kyocera and Chi Mei's Japanese subsidiary IDTech.
Whether or not the collaboration with Kyocera will be altered following CMEL's formation remains to be seen, and CMEL's production line and product line plans are still subject to change. Yet CMEL has not ruled out following Chi Mei in joining forces with IDTech for OLED development.