Samsung announced that the company has acquired Liquavista, a display company headquartered in Eindhoven, the Netherlands, in December 2010, according to a January 20, 2011 report by the Wall Street Journal. Financial details of the acquisition deal were not disclosed. Established in 2006, Liquavista was a spin-off from Philips Research Labs. Liquavista specializes in electrowetting technology, a new type of electronic display technology that can be used for e-reader devices, mobile phones, media players, and other types of mobile devices. It is reported that the electrowetting technology uses only 10% of the battery power of existing display technologies.