Toshiba scraps plans for OLED panel mass production

TOKYO, Oct 1 (Reuters) - Toshiba Corp 6502.T plans to scrap plans to mass-produce organic electroluminescence (OLED) panels at its unit Toshiba Mobile Display and focus on high-demand LCD panels instead.

“The plan (for mass-production) is currently frozen. We’ll review the production plan again from scratch,” Toshiba Mobile Display spokesman Masahiro Kume said.

Toshiba Mobile Display, a joint venture between Toshiba and Panasonic Corp 6752.T, had invested some 16 billion yen ($191.6 million) in 2008 to install an OLED production line at its plant in Ishikawa Prefecture in northern Japan with plans to to churn out 1.5 million cell phone OLED panels a month, the Nikkei business daily said. [ID:nSGE68T0K8]

Reporting by Mariko Katsumura