Sony to invest $200 million in OLED TVs

Sony has announced plans to pump 22 billion yen, which is around $203.5 million, into developing new technology for making medium to large organic light-emitting diode (OLED) panels.

Sony unveiled its first OLED TV, the XEL-1, at CES earlier this year.

Samsung also brought out OLED models, and continues to be Sony's main rival in this area.

Reuters explains: "OLED displays use organic, or carbon-containing, compounds that emit light when electricity is applied. Unlike liquid crystal display panels they do not need backlighting, making OLED TVs slimmer and more energy-efficient".

However, Sony and Samsung alike have to crack the problems of creating large OLED panels.

Sony's existing OLED TV has an 11-inch screen.