"We will accelerate development of popular applications such as large-screen TVs and wall lighting systems," said Kiyohiko Nakae, Executive Officer, Sumitomo Chemical, explaining the reason for the acquisition. "Although expecting no return (from this investment) over the next two to three years, we aim to be ready when the rapidly growing market is established in and after 2010."

Nakae indicated a roadmap, saying, "We will commercialize a display, which is not a TV, in 2008. Then in 2009 to 2010, we will strive to release an organic EL TV product." He explained that the color purity of emitted RGB light is equivalent to that of low-molecular organic EL materials.

The company will also focus on organic EL lighting systems that are expected to replace fluorescent bulbs along with displays, he added.
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