Struggling Sony to halt OLED TV development – report

Tokyo – Sony Corp has decided to suspend the development of organic light-emitting diode (OLED) televisions in order to focus on its new range of liquid crystal TVs, news reports said Tuesday.

The struggling Japanese electronics giant does not expect demand for OLED TVs to take off anytime soon, the Nikkei business daily reported without citing any sources.

South Korean rivals LG Electronics and Samsung Electronics have moved ahead of the Japanese company in the sales of OLED TVs, which remain a promising next-generation technology with clear pictures and fast response times, the Nikkei said.

Meanwhile Sony’s ultra-high-definition 4K LCD TVs are generating revenue, the report said.

In early May, Sony increased its predicted net loss to 130 billion yen (1.27 billion dollars) for the previous financial year due to additional costs from its personal computer business and disc manufacturing.

In February, Sony estimated a net loss of 110 billion yen for the year to the end of March.

Sony will report its earnings for the year on Wednesday.