As plasma HD TV sales slow down and LCDs take the lead as the most popular TV hardware in the world, Sony has decided to invest heavily in OLED technology instead.

Within the next year it will spend approximately £102 million on developing tech to build medium- to large- Organic Light-Emitting Diode (OLED) panels for use in TV sets. Sony already has an OLED TV on the market, demonstrating exactly what benefits the format can provide consumers: ultra-thin design and a beautiful picture. But the XEL-1 is extremely small and priced like a much larger HD TV.

Tight-lipped about everything else

Sony has not divulged any information about the future OLED TVs it may release. However, most view the announcement as the first step towards the company replacing all its LCD HD TVs with the new OLED sets, which will reduce power consumption and improve colour accuracy.

Of course, Sony isn't the only company jumping on the OLED bandwagon - Samsung has also announced that it will start developing the new tech. Sony did confirm exactly how much will be spent.