Sony will spend roughly $203.5 million on developing technology to build medium to large Organic Light-Emitting Diode (OLED) panels for use in TVs and monitors, the company announced today. While Sony already has an OLED TV on the market that exemplifies the ultra-thin design of OLEDs at 3mm (0.12in) thick, the XEL-1, its display measures just 11 inches across and is priced out of most hands at about $2,500 in the US.

While no details of future sets have been unveiled, this announcement is believed to be key to Sony replacing its current LCD TV offerings with the new OLED screens, which consume less power while simultaneously offering the slimmer profile and improved color accuracy inherent to the technology. Fellow OLED rivals such as Samsung have not revealed their own spending efforts.