Japan’s biggest tech giants, along with other Japanese corporate entities have banded together to form a new company in the name of OLED technology.

Sony, Panasonic, the Innovation Network Corporation of Japan (INCJ), and Japan Display (JDI) have announced their collaborative plans to establish a new company, JOLED. The new company will spearhead the integration of both corporation’s research and development efforts into the commercialization of OLED (Organic Light-Emitting Diode) technology.

The main focus of JOLED is the acceleration of the development of OLED technology, to widen its prevalence in the consumer tech market. From a production standpoint, research will be focused on the development of screens suitable for standard 10 to 12-inch screens, targeting notebook computers, tablets and other compatible mobile devices. Overall however, JOLED aims to open OLED technology wherever it could be efficiently used, harnessing its screen flexibility and display quality for a wide variety of innovative applications.

Since OLED technology’s first commercial debut in 2008 with Sony’s XEL-1, the technology has been widely considered as the next generation screen technology after LCD. OLED efficiently combines both the best advantages of LCD and Plasma screens, with its bright, crisp colors, low energy consumption, and ultra-thin, flexible screens. Despite all of OLED’s technical advantages however, the technology currently suffers from production and manufacturing limitations, the matter of which JOLED plans to properly research and develop.

Finalization for the establishment of JOLED is still underway. As it stands, INCJ will hold 75% of the voting rights, while JDI will hold 15%. The remaining 10% will be divided evenly between Sony and Panasonic. JOLED is scheduled to officially launch on January 2015 upon proper approval, along with the construction of a pilot manufacturing plant.