Sony, Toshiba, Sharp and other Japanese electronic companies are going to join forces to speed up the development of OLED panels. Together they expect to be able to cut down on development costs of the, less power consuming and more flat OLED screens.

Also because their Korean competitors are also ramping up their efforts in OLED, whith Samsung already announcing to spend nearly half a billion into OLED developments, they want to hurry up in cutting production costs and advancing technological development.

The Japanese goverment is expected to throw in about $32 million to help with kickstarting the project. The project should run from this year through 2012.