Exhibit 23.2

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

As independent public accountants, we hereby consent to the incorporation by
reference in this Registration Statement of our report dated March 5, 2002
included in Universal Display Corporation's Form 10-K for the year ended
December 31, 2001 and to all references to our Firm included in this
Registration Statement.


                                                         /s/ Arthur Andersen LLP

Philadelphia, PA
May 22, 2002