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Sharp, Sony, Toshiba Team Up to Produce OLEDs
Look to cut costs to mass produce OLEDs and keep up with competition.

Panasonic, Sharp, Sony and Toshiba are teaming with other manufacturers to make affordable and competitive OLED TVs, according to Reuters.

The Japanese companies are aiming to cut costs by coming together and mass producing next-generation, large-size OLED TVs.

The report doesn't mention any time frame for the release of these OLEDs. Panasonic, however, recently announced plans to mass produce 30-inch OLEDs in three years.

The Japanese government is throwing in $32 million to help these manufacturers keep up with Samsung and LG, which are leading the way in OLED technology.

Samsung has said it will increase its OLED production to six times the current level by mid-2009.

Sony debuted its first OLED TV, the 11-inch XEL-1, at 2008 CES.

DisplaySearch released studies saying OLED TVs are going to be the fastest-growing application over the next eight years and sales will reach $3.1 billion by 2012.

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