Universal Display Corporation is engaged in research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. The Company develops OLED materials and sells to product manufacturers for display applications, such as mobile phones, televisions, monitors, wearables, tablets, portable media devices, notebook computers, personal computers and automotive applications, and specialty lighting products. It manufactures and sells OLED materials to customers for evaluation and use in commercial OLED products. It supplies phosphorescent organic light-emitting diode (PHOLED) emitter materials to OLED device manufacturers. The emitter material is designed to convert electrical energy to a desired wavelength of light and is the key component in an OLED device. PHOLED technologies utilize specialized materials and device structures that enable OLEDs to achieve reduced power consumption.