Business / Corporate

Sharp Corp. set to invest ¥57 billion in organic LED production

Bloomberg

Sharp Corp. is investing ¥57.4 billion for the development of organic LED display production facilities, with the goal of starting output by June 2018.

The funds will be used for equipment and to deliver sample products to customers, the Osaka-based company said in a statement Friday. The investment will be for Sharp’s factories in Mie and Osaka prefectures.

The investment is part of the ¥200 billion that Sharp had already committed to OLED technology, part of a strategic plan it adopted with new owner Foxconn Technology Group.

Next-generation screens based on OLED, or organic light-emitting diode, technology promise more vivid images and less battery drain. Friday’s announced investment will be for smartphone displays, a representative of Sharp said, without identifying specific customers.