Japan’s two biggest consumer electronics firms, Sony Corporation (ADR) (NYSE:SNE) and Panasonic Corporation (ADR) (OTCMKTS:PCRFY) declared that they will end joint development of OLED television screens, a thinner as well as brighter type of next-generation display in which Korean competitors have a head-start.
The company spokesmen declared that two firms that have been leveling back their TV operations following chalking up heavy losses in current years, will in its place center their efforts on conventional liquid crystal display screens for so-called 4K ultra high-definition televisions that have shown greater promise.
Alliance in June previous year by Sony and Panasonic, formed the OLED with the aim of developing mass-production technology by the end of 2013. Doubts had accumulated over the partnership’s potentials; on the other hand, as it became clear it would miss its target. OLED panels, whereas used in smartphones as well as tablets by Samsung Electronics Co Ltd, are still measured prohibitively expensive for bigger sizes used in televisions.
The representatives stated that Japanese companies have not deliver the growth originally envisioned and are unlikely to be commercially feasible in the near future. Both firms displayed 56-inch OLED televisions at this year’s CES electronics explain in January. The spokesmen stated that they would persist independent efforts to expand OLED technology.
On the other hand, LG Electronics Inc, well thought-out the front-runner in OLED televisions, has models on the market other than they are significantly more costly than similar LCD televisions and have up till now to attain significant sales. Samsung also markets OLED televisions that propose higher resolution and use less power than LCD panels.
Sony Corporation (ADR) (NYSE:SNE) after opening at $17.42 hit high price of $17.50 and then closed at $17.45 by plunging -1.75% and on last session volume of 0.92 million shares as compares to its average volume of 2.70 million shares. The stock price volatility was 1.19% for a week and 1.22% for a month as well as price volatility’s Average True Range for 14 days was 0.31 and its beta remained 1.55.