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Japan Display to acquire JOLED in 2017

Japan Display to acquire JOLED in 2017

By BizLED Bureau

Dec 14, 2016: With the aim to compete with Korean and Chinese rivals, Japan Display (JDI), one of Apple’s major suppliers of iPhone displays, is planning to acquire JOLED, which is an OLED joint venture between Panasonic and Sony, according to Japan’s Nikkei newspaper. The acquisition plan comes at a time when Apple is all set to switch from a LCD to an OLED for its screen.

Japan Display to acquire JOLED in 2017

JDI to increase stake?

Founded in 2012 through a merger of Hitachi, Toshiba and Sony panel operations, JDI already has 15% stake in JOLED, is considering to raise it to more than 50% in 2017 through stock purchases from state-backed Innovation Network of Japan that owns 75% of the venture. Panasonic and Sony each have 5% stake in JOLED.

Also Read: JOLED may start mass production of OLED displays by 2017

It is estimated that the deal can fetch US$100 million. INCJ, which is the major shareholder of JDI, will invest US $650 million (75 billion Japanese Yen) into JDI to develop LCD and OLED businesses.

JDI manufactures high-quality LCDs for smartphones, car monitors and computers, and is a display supplier to Apple. JOLED also makes mid to large-sized OLED panels.

Also Read: Weak iPhone demands force Japan Display to cut 30% workforce

If the two companies get merged, it would mean integration of Japan’s OLED technology. It would also help JDI to provide a varied range of panels to its customers.

JOLED, which was founded in January 2015, mass produces cost-effective OLED panels for TVs, medical and other industrial applications.

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