Matsushita, Hitachi and Canon to tie-up on OLED displays

Hitachi may scale down or exit its liquid crystal display (LCD) panel operations on the back of a deal with Matsushita Electric Industrial and Canon, the Nikkei business daily has reported.

The firms are close to agreeing to a tie-up on organic light-emitting diode (OLED) panels, a competing display technology, by which Matsushita and Canon would each invest more than 100 billion yen ($880 million) to take minority stakes in unit Hitachi Displays Ltd