Sony will delay production of its next-generation ultrathin television as the struggling electronics giant seeks to avoid further losses, reports the Wall Street Journal. The organic light emitting diode, or OLED, television was to succeed a three-millimeter-thick model released in late 2007, but will be held back until at least next year. At present Sony is on track for a sixth straight year in the red.
In past years Sony has rolled out technologically impressive products that nevertheless failed to turn a profit, but today's decision signals impatience at the Japanese giant for profits from its TV division—it lost $1.34 billion last year. Delaying the OLED television opens the door for LG, Samsung and other manufacturers racing into a market seen as a replacement for LCD displays.