Sony to spend $200 mln on advanced panel technology
TOKYO (Reuters) - Japanese consumer electronics maker Sony Corp (6758.T) said on Tuesday it will spend 22 billion yen ($203.5 million) to develop technology to make medium to large organic light-emitting diode (OLED) panels.
Sony launched the world's first TV using such panels in November at a price of 200,000 yen.
OLED displays use organic, or carbon-containing, compounds that emit light when electricity is applied. Unlike liquid crystal display panels they do not need backlighting, making OLED TVs slimmer and more energy-efficient.
Just 3 mm thick, the new TV consumes 40 percent less power than a comparable LCD set and is suitable for watching fast-moving images such as sports programs because of its quick response time. It also offers bright colors and a wide viewing angle.
But it is technologically difficult at the moment to make large OLED panels. Sony's existing OLED TV has an 11-inch screen, or roughly as large as two CD cases put side by side.
Shares in Sony, which competes with Samsung Electronics Co Ltd (005930.KS) and Sharp Corp (6753.T) in LCD TVs, ended Tuesday trade up 2.2 percent at 5,010 yen, outperforming the Tokyo stock market's electrical machinery index .IELEC.T, which gained 1.1 percent.
(Reporting by Kiyoshi Takenaka, Editing by Michael Watson)