Sony Corp has decided to suspend the development of organic light-emitting diode (OLED) televisions to focus on its new range of liquid crystal TVs.
The struggling Japanese electronics giant does not expect demand for OLED TVs to take off anytime soon, the Nikkei business daily reported today without citing any sources.
South Korean rivals LG Electronics and Samsung Electronics have moved ahead of the Japanese company in the sales of OLED TVs, which remain a promising next-generation technology with clear pictures and fast response times, the Nikkei said.
Meanwhile Sony’s ultra-high-definition 4K LCD TVs are generating revenue, the report said.
In early May, Sony had increased its predicted net loss to ¥130 billion ($1.27 billion) for the previous financial year due to additional costs from its personal computer business and disc manufacturing.
In February, Sony estimated a net loss of ¥110 billion for the year to the end of March.
Sony will report its earnings for the year on Wednesday.