In an attempt to pull back audience attention towards the forgotten TV segment, Japan based competitors Sony and Panasonic have decided to announce their strategic tie-up sometime next week. As per the associated sources, both the entities have agreed to participate in developing ways for mass production of next generation OLED TV sets and that too at affordable prices. 

OLED or Organic Light Emitting Diode is a technology in which a thin organic layer of film emits light when exposed to electric current. The use of this technology started with digital displays in television, but now it’s quite a norm in PC monitors, mobile phones, gaming consoles and PDAs. 

From last two decades, leading Japanese tech firms like Samsung and LG Electronics had been dominating the global TV market until the advent of live streaming leading to reduced demand for TV sets among the masses.  

While Samsung is diverting its focus toward Android backed devices, Sony is developing a technology to fabricate screens using sprays. Panasonic, on the other hand, is making prototype OLED screens made of inkjet printer technology. By combining their research and development resources the firms are hoping to regain ground from their foreign rivals.

Under this agreement, Panasonic has indicated an approximate investment of $374 million to set up a test production line at a plant in Japan.