Toshiba, Matsushita joint venture aims to sell TV-use OLED panel

A joint venture between Toshiba and Matsushita Electric Industrial said on Wednesday it aimed to launch TV-use organic light-emitting diode (OLED) panels in three years, taking aim at a $35 billion market dominated by LCD and plasma panels.

Toshiba Matsushita Display Technology Co. Ltd., owned 60 percent by Toshiba and the rest by Panasonic maker Matsushita, aims to start commercial production of OLED panels for flat TVs by 2009, a spokesman for the venture said.

OLED panels are said to be energy-efficient, make thin and light displays, and have strength in showing fast-moving images.

Besides Toshiba Matsushita Display, Sony develops OLED panels for TVs.

In 2007, the market for TV-use liquid crystal display (LCD) modules is expected to come to $27.4 billion, while demand for plasma panel modules will likely total $7.5 billion, according to research firm DisplaySearch.