Reportedly, Samsung Display Co. has purchased display startup Cynora GmbH for about $300 million. Samsung acquired Cynora’s intellectual property and technology but not its engineers. Already an investor in Cynora, Samsung with LG Electronics Inc. and other display manufacturers also backed the startup.
Samsung and other tech companies have long offered OLED screens, short for organic light-emitting diodes but Cynora specialized in making rigid versions of the displays for foldable devices. Samsung has popularized foldable smartphones, a market that Apple Inc., (AAPL) Alphabet Inc., and other technology giants are expected to enter in the coming years. Samsung & Cynora representatives did not respond to requests for comment.
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