Coming as somewhat of a surprise, Kodak announced it is selling all the assets of its OLED business to a group of LG companies.

OLED technology hasn't yet hit its stride, but is gaining steam, particularly in the handheld market, as prices continue to come down. Kodak, however, isn't turning its back on OLED completely. Through a signed cross-license agreement with LG, the company will still have access to OLED technology, and both will have broad access to each other's patent portfolio, TGDaily reports.

As part of the license agreement, Kodak will also receive royalties, through the company didn't say how much. This and other financial terms of the deal were not disclosed.

Image Credit: Kodak

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