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Samsung buys German startup Cynora for $300 million

The Samsung Galaxy Z Fold3.

Samsung acquired a German display startup company.

Yonhap News Agency reports that Samsung Display bought German OLED startup Cynora for $300 million. This includes Cynora's "intellectual property and technology" on OLED panels for foldable phones.

As the biggest foldable phone brand in the market, Samsung is eager to make its Galaxy Z series as significant as the Galaxy S series. With foldable phone shipments estimated to exceed 30 million units in 2024, Samsung plans to maintain its lead in the market with better OLED display technology for the Galaxy Z phones.

Source: Yonhap News Agency