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Business deals

Budget brand TCL teams with Sony-Panasonic venture for large TVs

Chinese company will invest $190m in the Japanese OLED joint venture

JOLED seeks to shake up the OLED industry by developing the printing manufacturing process.

TOKYO -- China's TCL Technology Group, billed as the fastest-growing TV brand in the U.S., will invest 20 billion yen ($187 million) in JOLED, the Japanese display maker created from the organic light-emitting diode operations of Panasonic and Sony, in an effort to develop mass production technology for large television panels within three years.

JOLED will be more than 10%-owned by TCL display-manufacturing unit TCL China Star Optoelectronics Technology after receiving a private placement of new shares. The Chinese company will also lend the Tokyo-based display maker 10 billion yen to cover capital investments needed for prototype-panel production.

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