OLED Gets the Axe from Samsung and American International Group Posts 27% Fall in Quarterly Income
Universal Display Corp. (NASDAQ: OLED) - will not be expanded by Samsung for TV production. According to Nikkei Asian Review, Samsung has left its plans for a new facility to produce next-generation OLED panel for TVs due to production inefficiency and price competition. The publication reported that Samsung's last lineup of OLED TVs didn't fare well because they were too expensive. A 55-inch model was selling for about $14,700. Samsung will focus on LCD displays for its TVs for now, but will continue to research OLED technology.
Universal Display Corporation is engaged in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. It owns, exclusively licenses, or has the sole right to sublicense approximately 3,000 patents issued and pending worldwide. The company licenses and supplies its proprietary UniversalPHOLED phosphorescent OLED technologies and materials to display manufacturers and others.
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American International Group, Inc. (NYSE: AIG) posted a 27 percent fall in quarterly income. The company is in the middle of a turnaround after almost collapsing during the 2008 financial crisis. The company reported a 5% drop in property casualty insurance. Consumer insurance fell 7% on higher catastrophe and severe loss claims. The company has paid back the $180B in bailout funds it received in 2008.
American International Group, Inc. provides insurance products and services for the commercial, institutional, and individual customers in the United States and internationally. The company operates in two segments: AIG Property Casualty, and AIG Life and Retirement. The AIG Property Casualty segment offers casualty insurance products that cover general liability, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance; industrial energy-related and commercial property insurance products, which cover exposures to man-made and natural disasters; aerospace, environmental, political risk, trade credit, surety and marine insurance products for small and medium sized enterprises; and various forms of professional liability insurance products. It also provides personal accidental and supplemental health products for individuals, employees, associations, and other organizations; and life products, as well as a range of travel insurance products and services for leisure and business travelers.
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