Recognizing the declining potential of OLED (organic light-emitting diode) televisions, Sony Corp has said that it will suspend research and development activities pertaining to this technology. The company will instead focus on developing and launching a brand new range of liquid crystal televisions. Sony said that it was confident about demand for OLED TVs not picking up in the near future.
The electronics giant based in Japan has been struggling under pressure from new competitors over the recent past. Sony\'s decision to put OLED TVs in the backseat was reported in the Nikkei business daily, but it did not cite any specific sources.
However, the report also added that Sony\'s key competitors Samsung Electronics and LG Electronics have managed to gain a competitive edge in OLED TV sales. This television technology is regarded as having considerable potential in the immediate future primarily owing to its rapid response times and clear pictures.
On the other hand, Sony seems to have found a revenue-generating avenue in the form of its latest ultra HD 4K LCD TVs, according to the report.
At the beginning of May 2014, Sony had said that its net loss for the 2013 financial year would likely amount to USD 1.27 billion (¥130 billion). These losses were apparently compounded by the company\'s disc manufacturing business and its personal computer business as well. However, in February 2014, Sony had pegged its net loss at ¥110 billion up till the March 2014 financial year end. The company is expected to report on Wednesday, its earnings for this year.