Sony and Panasonic today announced that they have signed an agreement regarding the joint development of next-generation OLED (organic light-emitting diode) panels and modules for TVs and large-sized displays. The Sony-Panasonic alliance will mean that both companies could compete with South Korean rivals on price, whilst taking less of a financial risk.

The two TV manufacturers plan to jointly develop next-generation OLED panels and modules by each utilizing their core and printing technologies. They plan to jointly develop printing method-based next-generation OLED technology, which will be suitable for low-cost mass production of large, high resolution OLED panels and modules. Sony and Panasonic aim to establish mass-production technology during 2013, by integrating their unique technologies to improve the overall efficiency of development.

Each company plans to utilize its own strengths to develop and commercialize its own competitive, high-performance, next-generation OLED televisions and large-sized displays.