Another high-tech industry in Japan has been hit hard JOLED went bankrupt: it can no longer compete with China and South Korea
Japan used to be the world’s leading display panel powerhouse. However, in recent years, not only has it lost ground in LCD panels, but now the OLED panel field has also suffered heavy losses. JOLED has started bankruptcy and reorganization. In the future, only the panel R&D business will be retained, and the manufacturing part will be closed. stop.
JOLED was established in 2015 from the merger of the OLED panel divisions of Sony and Panasonic.Similar to the previous JDI, the merger of the LCD panel business of several Japanese companies is Japan’s hope for the revitalization of OLED panels.
In terms of OLED technology, JOLED has its own uniqueness. Unlike other companies that mainly promote the evaporation process, JOLED focuses on printed OLED technology, which is more advanced in technology. In 2019, it also operated the world’s first printed OLED production line. It mainly produces high-end OLED panels, and also has businesses such as flexible and foldable OLED panels.
However, JOLED has been facing difficulties in stable production, resulting in cost and time exceeding expectations, coupled with the current weakening demand for high-performance OLED panels, and fierce competition from manufacturers in China and South Korea, JOLED has been operating at a loss due to various factors.
JOLED’s current debt is regarding 33.7 billion yen, and the RMB is only 1.8 billion yuan, which is not high.But this amount of money is also difficult for this company, and Japan’s semi-official INCJ industry innovation agency has also injected funds to rescue JOLED before, with a total of 138 billion yen, which still has not improved the company’s operating conditions.
In the end, it announced bankruptcy and reorganization today. The company’s R&D department will be retained, and this part will receive help from JDI, but the manufacturing department with heavy losses will give up, and no taker is found. About 380 employees will be laid off.
Finally, there is a procedure. The person in charge of JOLED apologized for the troubles caused by the bankruptcy to related customers and personnel.INCJ president Katsumata Kane also expressed “heartbroken pain” for JOLED’s final bankruptcy.
