Rumor: Panasonic is leaving the OLED TV market

After Sony, Panasonic would also have abandoned its plans for OLED TVs. The manufacturer would like to sell its OLED business to Japan Display as part of the company’s drive to increase profitability and reduce costs.

Panasonic will focus on the production of LCDs and the group also wants to target markets other than televisions, the Japanese newspaper Mainichi claims, based on sources familiar with the group’s plans. The development of OLED TVs is associated with high costs and Panasonic does not expect that profitability can be increased as a result.

Panasonic is struggling with significant losses, has been reorganizing for some time and has also pulled the plug on the production of plasma TVs. Selling the OLED branch would give the group some air. Last year, Panasonic ended its partnership with Sony in the field of OLED TVs. Sony itself would also have plans to stop developing OLED TVs. Sony may also be considering selling the division to Japan Display.

OLED is seen as an important technology for TVs, because of the advantages in terms of color reproduction, viewing angles and black reproduction. However, development and production costs are high and many manufacturers are already struggling to record positive numbers in the TV market. Even market leader Samsung would have put OLED production on the back burner.