Innovation Network Corporation of Japan (INCJ), Japan Display (JDI), Sony, and Panasonic have announced that they have executed a definitive agreement to establish a new company, JOLED, to integrate Sony and Panasonic's R&D functions for 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, according to Sony.

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, Sony said. JOLED will bring together OLED display technologies from Sony and Panasonic, including use of printing technology for OLED production, transparent amorphous oxide semiconductors, and flexible display technology.

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, Sony added.