The joint-venture OLED development business, JOLED, owned by Panasonic and Sony has filed for bankruptcy in Japan. Its debts are 33.7 billion Yen (around €236m).

JOLED’s troubles are seen as part of the long decline of Japan’s display industry, which has undergone repeated realignments to try to compete with South Korean and Chinese rivals.

The original plan was to develop JOLED as a mass-producer of OLED panels at low cost.

JOLED will close two factories and lay-off 280 staff. However, a rescue is in prospect from Japan Display which in statement said it would acquire JOLED’s IP in order to expand and accelerate its own growth strategy. Japan Display has an existing contract with Apple.

JOLED’s production plans were delayed by the Covid pandemic and its production lines did not start until 2021. The subsequent shortage of silicon chip-sets also hindered output.

Other posts by :

1. Rakuten makes historic satellite video call
2. Rocket Lab confirms D2C ambitions
3. Turkey establishes satellite production ecosystem
4. Italy joins Germany in IRIS2 alternate thoughts
5. Kazakhstan to create museum at Yuri Gagarin launch site
6. AST SpaceMobile gets $42 or $1500 price target
7. Analyst: GEO bloodbath taking place
8. SES AGM results: Appaloosa still objecting
9. SpaceX’s Shotwell worth $1.2bn

Categories: Articles, Business

Tags: bankrupt, JOLED, Panasonic, Sony