We got the best Samsung deals! Galaxy S24 Ultra, Watch 6, Z Fold 5 or, Z Flip 5.

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Notifications
    News for you

    Samsung Display has one less market rival with JOLED’s bankruptcy

    Business
    By 

    Last updated: March 29th, 2023 at 14:10 UTC+02:00

    As per the recent reports coming in from Japan, the pioneering leader in OLED inkjet printing, JOLED, has officially filed for bankruptcy protection at the Tokyo District Court. The company's inability to raise funds combined with liabilities amounting to approximately $257 million has led to this outcome.

    Apparently, JOLED has been facing financial hardships for an extended period and will consequently have to cease operations on its two production lines. Additionally, 280 employees, out of a total of 380, will be laid off as part of this arrangement.

    Moreover, the tech corporation has decided to relocate its patents and research and development activities to Japan Display Inc while also closing down its production facilities. The decision will directly impact manufacturers of premium OLED-based displays and televisions.

    JOLED to transfer its OLED IP to Japan Display Inc.

    According to Nikkei, the Innovation Network Corporation of Japan (INCJ), JOLED's primary shareholder, has revealed that it cannot rely on other stakeholders to assist in helping the struggling company. As a consequence, JOLED has decided to cease OLED panel manufacturing and sales operations and will shut down two plants situated in Japan, resulting in the termination of approximately 280 employees.

    In addition, the company has entered into an arrangement with Japan Display Inc., a corporation co-owned by INCJ, to transfer its technology and development operations. The division currently employs approximately 100 individuals. “We could not expect relevant parties to make additional investments,” said INCJ President Mikihide Katsumata.

    Stiff competition from Samsung and others could have contributed to the outcome

    JOLED has faced continuous financial setbacks since its inception in 2015 due to fierce competition from established market giants such as Samsung Display and LG Display. Therefore, the company plans to terminate manufacturing operations and relocate engineering personnel and intellectual property to Japan Display.

    Notably, in January 2021, Samsung Display initiated legal action against JOLED in the United States, claiming that the company has infringed upon its patented technology. So, if the latter were to be excluded from the market, Samsung would have one less competitor to contend with, considering it supplies OLED displays to various tech giants, including Apple.

    BusinessDisplay JapanJapan DisplayJOLEDOLEDSamsung Display

    You might also like

    Pre-order a 2024 Samsung TV and get a 2nd 65-inch model for free

    Pre-order a 2024 Samsung TV and get a 2nd 65-inch model for free

    Samsung's new 2024 TVs, unveiled at CES in Las Vegas in January, are now available for pre-order. The latest models include a new Frame, OLED TVs, and Neo QLED 4K and 8K models. Each series is available in different sizes and configurations. But no matter which one you decide to pre-order, Samsung is rewarding early […]

    • By Mihai Matei
    • 1 day ago
    Pre-orders for Samsung’s new OLED and Neo QLED TVs are now open in USA

    Pre-orders for Samsung’s new OLED and Neo QLED TVs are now open in USA

    At CES 2024 earlier this year, Samsung unveiled its new TV and soundbar lineup. However, the company had not revealed the pricing or launch dates of its new TVs and soundbars at the time. Today, Samsung has started taking pre-orders for its new Neo QLED and OLED TVs. Its Music Frame wireless speaker is also […]

    • By Asif Iqbal Shaik
    • 4 days ago
    Samsung Electronics gets $4.3 billion from Samsung Display to fund semiconductor expansion

    Samsung Electronics gets $4.3 billion from Samsung Display to fund semiconductor expansion

    Samsung Electronics is the leading supplier of memory chips and other semiconductor products. It has been heavily investing in the expansion of its production facilities as demand for memory products, particularly High Bandwidth Memory, is expected to rise in the coming quarters. There are many subsidiaries that operate under Samsung Electronics. Samsung Display is one […]

    • By Adnan Farooqui
    • 5 days ago
    Samsung plans to expand sales of its OLED TVs this year

    Samsung plans to expand sales of its OLED TVs this year

    Samsung entered the OLED TV market quite late. Despite being a decade late to the market, Samsung has been rising through the ranks quickly. This year, the company expanded its OLED TV lineup, and it is planning to convert that into higher sales. Samsung has a plan to match LG in OLED TV sales Earlier […]

    • By Asif Iqbal Shaik
    • 2 weeks ago
    Samsung running promotions for its new QLED, Neo QLED, and OLED TVs in Korea

    Samsung running promotions for its new QLED, Neo QLED, and OLED TVs in Korea

    A few days ago, Samsung announced the prices and pre-order details for its 2024 TV lineup in South Korea. The company has now announced promotional activities before launching its new TVs in its home market. Samsung held the ‘Unbox & Discover 2024' launch event in South Korea for its new QLED, Neo QLED, and OLED […]

    • By Asif Iqbal Shaik
    • 2 weeks ago
    Work begins on Samsung’s most-advanced OLED production line yet

    Work begins on Samsung’s most-advanced OLED production line yet

    Samsung Display is investing a huge amount of money in developing a new production line for OLED displays in a bid to maintain its dominance in the market amid a relentless push from Chinese display manufacturers. The company has confirmed that work has begun on its 8.6-generation OLED manufacturing line, which would be the company's […]

    • By Adnan Farooqui
    • 2 weeks ago