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[May 13, 2014]
Sony to suspend development of OLED TV for household: sources
(Japan Economic Newswire Via Acquire Media NewsEdge) Sony Corp. may suspend the development of organic light-emitting diode televisions for household use in order to focus its resources on products with stronger demand and improve the profitability of its flagging TV business, company sources said Tuesday.
Sony is planning to shift its personnel for OLED TVs to "4K" liquid crystal TVs, which display images four times sharper than high-definition resolutions and is expected to attract bigger demand, the sources said. The company dissolved its partnership with Panasonic Corp. on the development of OLED TV displays late last year.
South Korean rivals LG Electronics Inc. and Samsung Electronics Co. have been leading the sales of OLED TVs, but the market outlook remains uncertain, with sales of the products struggling due to high price tags.
As for 4K TVs, Sony has seen solid sales both at home and abroad but price competition against Chinese rivals is intensifying.
Sony has decided to split its TV business into a wholly owned unit on July 1 to cut costs and bring it into profitability in the current business year through next March.
(c) 2014 Kyodo News
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