Companies

Display maker JOLED files for bankruptcy with $250m in liabilities

Hoped-for Japanese champion in OLED panels fails to catch up to South Korean rivals

20230327 joled

JOLED will close two plants in Japan and let go of around 280 employees as it withdraws from OLED panel business. (Photo courtesy of JOLED)

Nikkei staff writers
March 27, 2023 18:51 JST
Updated on March 28, 2023 00:29 JST

TOKYO -- Japan's JOLED, a company formed in a 2015 merger of the organic light-emitting diode (OLED) businesses of Panasonic and Sony, said Monday that it had filed for bankruptcy protection at the Tokyo District Court.

JOLED has total liabilities of 33.7 billion yen ($257 million).

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