Samsung Electronics plans to buy QD Vision, an American company specializing in quantum dot technology, which is considered the superior next-generation alternative to LED and OLED displays.

Samsung Advanced Institute of Technology President Chung Chil-hee revealed the plan to reporters on Wednesday on his way to a meeting in Seoul.

Founded in 2004 by researchers from the Massachusetts Institute of Technology(MIT), QD Vision holds patents in quantum dot materials. 

Samsung Electronics has also been developing quantum dot technology.

Quantum dots are nanometer-scale semiconductor particles. They are very energy efficient and thus can contribute to improving the image quality of displays without requiring additional electricity.