JOLED files for bankruptcy

The joint-venture OLED development business, JOLED, owned by Panasonic and Sony has filed for bankruptcy in Japan. Its debts are 33.7 billion Yen (around €236m).

JOLED’s troubles are seen as part of the long decline of Japan’s display industry, which has undergone repeated realignments to try to compete with South Korean and Chinese rivals.

Source: JOLED files for bankruptcy