Monday, 25th June 2012
In Business In Japan,
Arch rivals Sony and Panasonic team up on TVs
Two of Japan's biggest electronics companies have gone from rivals to partners as they look to head off competition in the television industry from firms overseas.
Panasonic and Sony may be more used to competing with one another over the latest devices, but the two companies have announced that they will work together to develop the next generation of OLED (organic light-emitting diode) panels.
The panels are used in televisions and large display screens and the two Japanese brands are to jointly develop the next generation of OLED technology, suitable to be produced on a mass scale at low cost.
Both Panasonic and Sony have been struggling in recent months and the announcement is seen as an attempt to reclaim market share they have lost to foreign rivals, such as Korea's Samsung.
However, while they will be working together to develop the technology, it does not appear that the agreement represents a commercial collaboration.
"Each company plans to utilise its own strengths to develop and commercialise its own competitive, high-performance, next-generation OLED televisions and large-sized displays," they said in a joint statement.
Written by Mark Smith