The maker of small displays used in
smartphones, cars and other products is in “discussions with multiple customers
and plans to start mass production from 2024,” the company, which counts Apple
Inc among its biggest customers, said in a news release.
Japan Display, which expect an operating
loss of 11.3 billion yen ($93 million) in the year ending March 31, has
struggled amid tough competition and as customers shift to organic light
emitting diode (OLED) displays. More recently, it has had to curb production
because of semiconductor shortages.
Covered in tiny transistors, the component,
known as a backplane, makes up one of the layers in a LCD. They are also used
in OLED panels.
Japan Display says its new backplane
consume as much as 40% less power than conventional components and also
improves screen resolution making it suitable for virtual realty devices.
The company said it expects the new display
component to generate 50 billion yen ($411 million) in sales annual within five
years.