Sony, Panasonic tie up to develop OLED TV displays

Tokyo: Long-time Japanese rivals Sony Corp and Panasonic Corp are going to work together to develop next-generation panels called OLEDs for TVs and large displays.The companies said in a joint statement Monday they will share core technologies to develop OLED, or organic light-emitting diode, panels.Both Sony and Panasonic have posted losses after falling behind Samsung Electronics Co. of South Korea, as well as cheaper Asian rivals in TVs.[caption id="attachment_356377" align="alignleft" width="380" caption="Long-time Japanese rivals Sony Corp and Panasonic Corp are going to work together to develop next-generation panels called OLEDs for TVs and large displays.Reuters"][/caption]The joining of forces marks a departure from decades of rivalry, and highlights the pressure that Japanese manufacturers face to catch-up with Samsung in TVs.Sony was the first in the world to sell an OLED TV, with its 11-inch model in 2007, but buys liquid-crystal displays from other manufacturers.AP