The New Jersey-based Universal Display announced that the company will license certain technologies and sell materials to Samsung Mobile Display, a joint venture between Samsung Electronics and Samsung SDI, Reuters reported on August 23, 2011. Universal Display currently owns more than 1,000 patents for technologies and materials, which can be used to manufacture OLED (Organic Light Emitting Device) panels for Smartphones and tablet PCs. As per the agreements, the patent licensing and material sales will be valid through the end of 2017.