Panasonic and Sony Are Back Together for New OLED Venture
Yesterday, a new OLED venture was announced in Japan called JOLED. Its purpose: to combine Panasonic and Sony’s R&D for Organic Light Emitting Diode display panels.
Both TV makers first displayed samples of ink-jet printed OLED TVs at the 2013 Consumer Electronics show. Sony and Panasonic had a prior OLED joint development agreement. It lasted 18-months, ending in late 2013.
Details appear after the break.
JOLED’s stated goal is to accelerate the development and commercialization of OLED panels. Its initial focus will be on development of medium-size displays for tablets, mobile PCs and signage.
The members of the consortium include Sony, Panasonic, Innovation Network Corp. of Japan (INCJ) and Japan Display Inc.. The latter currently makes high resolution LCD panels for cellphones, like the iPhone Retina display (according to Wikipedia).
INCJ and Japan Display will respectively hold 75 percent and 15 percent of the voting rights in JOLED and Sony & Panasonic each hold 5 percent. INCJ and Japan Display plan to add investments to fund a pilot production line when the technology is ready for commercialization.
Below is a copy of the press release.
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“Innovation Network Corporation of Japan (“INCJ”), Japan Display Inc. (“JDI”), Sony Corporation (“Sony”), and Panasonic Corporation (“Panasonic”) announced today that they have executed a definitive agreement to establish a new company, JOLED Inc. (“JOLED”), to integrate Sony and Panasonic’s R&D functions for organic light-emitting diode (“OLED”) display panels. Through this collaboration, the companies aim to accelerate the development and early commercialization of OLED display panels. JOLED is scheduled to be launched in January 2015, subject to receipt of any necessary approvals.
INCJ and JDI will respectively hold 75% and 15% of the voting rights in JOLED, and Sony and Panasonic will each hold 5%. In addition, INCJ and JDI plan to make additional investments to fund a pilot manufacturing plant when the technology is ready for commercialization.
OLED displays offer great promise as the next-generation display technology due to their light-emitting properties, which enable displays to be lighter and thinner. JOLED will bring together world-leading OLED display technologies from Sony and Panasonic, including use of printing technology for OLED production, transparent amorphous oxide semiconductors, and flexible display technology. In addition, JOLED plans to take advantage of JDI’s wide-ranging portfolio of display technologies. JOLED’s aim is to become the leader in the global OLED display market.
JOLED plans to focus primarily on development of medium-size OLED displays for use in tablets, mobile PCs, and signage, where the unique features of OLED, including lightness/thinness and flexibility, can be leveraged. JOLED will aim to bring innovative products by leveraging flexible display technologies, aiming for improved moldability and durability as well as further reduction in weight.
JOLED plans to bring new management on board, and INCJ is currently leading the selection process. Both INCJ and JDI will appoint non-executive directors and plan to establish governance framework appropriate to build a strong management foundation.”
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