TOKYO: A Japan Display Inc group firm aims to raise $900 million to mass produce OLED panels using new technology.
Display makers are looking at mass producing organic light-emitting diode screens with a lower-cost printing process and if Japan Display was first, that could help it catch up with South Korean rivals after long being a laggard in OLED technology.
Its affiliate, JOLED, which is majority owned by a state-backed fund, has been working towards using the technology to start mass production of medium-sized screens for medical equipment monitors in late 2018 or early 2019.
JOLED has now approached dozens of investors including Sony Corp and Canon Inc for funds, the Nikkei business daily reported on Wednesday.
Japan Display said in a statement the reported details were not something it had announced, but added that it was considering ways to utilize its domestic factories to mass produce OLED panels.
The source, who was not authorized to speak on the matter, declined to be identified.
OLED screens are gaining in popularity as they are generally thinner, more flexible and offer richer colors than liquid crystal display (LCD) panels. Apple has adopted an OLED screen for its new iPhone X. But high production costs are still keeping OLED screens from being used widely.
Bigger rivals Samsung Electronics Co Ltd and LG Display Co Ltd are also working on the new production technology but it is not clear who is in the lead.