TOKYO, July 31 Sony Corp, Panasonic
Corp and Japan Display Inc said on Thursday
they would form a joint venture to develop organic
light-emitting diode (OLED) displays, with the government-backed
Innovation Network Corp of Japan (INCJ) taking a majority stake.
The venture, bringing together all of Japan's OLED
technology, would make small to mid-size panels for wearables,
smartphones and tablets.
The new company will be called JOLED Inc and is scheduled to
be launched in January. The INCJ will hold 75 percent of the
voting rights in JOLED, Japan Display will hold 15 percent, and
Sony and Panasonic will each own 5 percent.
(Reporting by Chang-Ran Kim; Editing by Edmund Klamann)