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The Seoul-based corporation has not commented publicly on the matter yet, and financial terms of the deal have not been revealed yet.
However, both the Wall Street Journal and Bloomberg suggested, based on unnamed sources, that the price tag is either close to or somewhere just above $200 million.
Novaled produces displays for "mass-produced devices" -- notably flat panel displays, solid-state lighting and thin-film photovoltaic technologies.
That mostly translates to smartphones and televisions, so should be right up Samsung's alley for a variety of products in its vast portfolio.
The reported purchase of Novaled could fill a void at Samsung.
The Galaxy smartphone maker jettisoned its Dutch subsidiary and display unit Liquavista this past May in a sale to Amazon.
Touting a "simplified LCD-like manufacturing process," Liquavista develops screens that can handle "all lighting conditions" for mobile devices such as e-readers, smartphones, GPS devices, portable media players and cameras.