As per a report on Wednesday, Samsung Display has bought German display company Cynora GmbH for roughly $300 million to enhance technologies for foldable smartphone screens.
The intellectual property and technology of organic light-emitting diode (OLED) panels used in foldable cellphones were acquired by the South Korean company from Cynora. According to the sources, the sale did not involve the employees of Cynora.
Acquiring the German OLED Firm
Kim Sung-Koo, vice president of Samsung’s mobile business, said the company has tried to make its foldable smartphone series a primary column in our industry alongside the Galaxy S series. Kim stated during the April earnings conference that the new foldable model, slated for release in the second half, is now being prepared by everyone.
In addition to Apple possibly entering the foldable market in the future, Samsung is anticipated to introduce its new foldable series in August. Samsung will dominate the market with a 75% market share until 2023, predicts market watcher Counterpoint Research. No one from Samsung Display was available to comment on the agreement.
About the Samsung Foldable
As per the sources, Samsung is developing a budget foldable phone. The Galaxy A Fold, a foldable phone that has been given that name, is anticipated to cost around 1 million Won. At that price, it would be the cheapest foldable phone available. That amounts to around US$770 in today’s money.
Furthermore, The Galaxy A Fold is allegedly under development and is expected to release in 2024. The foldable is expected to lack some “advanced functionality” typically found in expensive phones, as befits its lower price. Although the source is vague, that would imply a top-tier processor, pen support, and cameras on par with flagship models.
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