Samsung Acquires German Start-Up Cynora That Specialises In Flexible And Transparent Displays

Samsung Display, the display arm of South Korean tech major Samsung has acquired a German company named Cynora that specialises in OLED technologies.

As part of a $300 million deal, Samsung has acquired Cynora’s intellectual property and technology but not its engineers. Image: Samsung

Samsung Display, the display arm of South Korean tech major Samsung has acquired a German company named Cynora that specialises in OLED technologies. Samsung's acquisition of german start-up Cynora cost the former $300 million, says a report. Cynora's focus is on foldable, flexible and transparent displays among other display technologies.

This development comes amid reports of Samsung working to introduce a foldable phone under $800 within two years. Samsung is in development on an “entry-level foldable smartphone under 1 million won.” Converted, that would put the price Samsung is targeting for this foldable at around $800, reports 9to5Google quoting publication ETNews.

As part of a $300 million deal, Samsung has acquired Cynora’s intellectual property and technology but not its engineers, said a Bloomberg report citing unnamed people familiar with the matter.

Samsung has worked to make its foldable smartphone series another "main column next to the Galaxy S series within our business", according to a report by news agency Yonhap that quoted Kim Sung-koo, Vice President of Samsung's Mobile Business. "We are currently all hands on deck preparing the new foldable model scheduled for launch in the second half," Kim said during the earnings conference in April.

Samsung is expected to launch its new foldable series in August, with Apple also being speculated to enter the foldable market in the coming years. According to industry tracker Counterpoint Research, Samsung will dominate the market with a 75 per cent market share until 2023.