JOLED Calls it Quits, Files for Bankruptcy

[TheLostSwede]

Japanese OLED display manufacturer JOLED has decided to throw in the towel, as the company board has filed for bankruptcy protection at the Tokyo District Court. JOLED has some 33.7 billion yen (US$257 million) in liabilities and is hoping to cover some of these by selling off assets. The Innovation Network Corporation of Japan (INCJ), which is the largest shareholder of JOLED, will be taking over its R&D department, along with around 100 employees as well as its intellectual property. However, it will not take over either of JOLEDs two fabs, located in Nomi and Chiba, Japan. The two fabs employ around 280 staff and currently the two fabs building displays using JOLED's innovative printing technology for OLED displays are expected to be closed.

However, as JOLED still has supply contracts with the likes of Apple, ASUS, Eizo, LG and Sony, INCJ will continue to operate the fabs for now, to fulfil the contracts for the time being. INCJ is apparently accepting responsibility to cover JOLED's liabilities, sheltering the other shareholders of JOLED, which includes Japanese Denso and Chinese CSOT/TCL. JOLED has struggled for most of its existence, being late to market with its OLED displays and haven't been able to compete with the likes of LG and Samsung in Korea and BOE Display and CSOT in China. Hopefully INCJ will be able to take advantage of the intellectual property from JOLED, as the company is focusing on making its own line of OLED displays in the future.



View at TechPowerUp Main Site | Source

 

[Daven]

Get the money up front, JOLED. No COD!

 

[Deleted member 185088]

Isn't LG using their panels for their professional OLEDs with true RGB?

 

[R-T-B]

Isn't LG using their panels for their professional OLEDs with true RGB?

They were on a few of them at least at monitor sizes. They were excellent panels, if a bit expensive. This is a loss for everyone.

 

[Chomiq]

Sad to see them go, I guess scaling up can be a bi... Hopefully TCL and AUO will succeed in producing true RGB OLED panels.

 

[Totally]

Sad to see them go, I guess scaling up can be a bi... Hopefully TCL and AUO will succeed in producing true RGB OLED panels.

Yeah, vertically integration or selling/producing every component in the space seems to be the only way to get really big. Being very good at one thing isn't a long term option.

 

[Tomorrow]

Monitore mit Panel: OLED, Panel-Hersteller: JOLED Preisvergleich Geizhals EU

Preisvergleich und Bewertungen für Monitore mit Panel: OLED, Panel-Hersteller: JOLED

geizhals.eu

In EU the only JOLED based monitors appear to be these two LG models.
Sad to see the only true RGB based OLED go.

Also their inkjet printing method did not appepar to be cheaper (could also be due to low volume production).
Also they failed to move past 60Hz.

 

[bonehead123]

bummer, as less competition hurts everyone, especially consumers

OTOH, a note to the PR writer(s)....

"(US$257 million) in liabilities and is hoping to reclaim some of these by selling off assets"

eehhh.....wrong answer.... you don't "reclaim" liabilities, you pay them off with the proceeds from selling assets.... however, the new owners/investors can "assume" the old company's liabilities... just sayin

 

[ThrashZone]

Hi,
Guess no banks would float the boat anymore.