Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials. OLEDs are thin and lightweight solid-state devices that emit light, making them suitable for use in full-color displays and as lighting products. The Company develops and licenses its OLED technologies to manufacturers of products for display applications, such as cell phones, moving picture experts group layer-3 audio (MP3) players, laptop computers and televisions, and specialty and general lighting products. The Company also develops OLED materials and sells those materials to product manufacturers. Through its internal research and development efforts and its relationships with partners, such as Princeton University, the University of Southern California, the University of Michigan, Motorola, Inc. and PPG Industries, Inc., the Company has established a portfolio of its own OLED technologies and materials.