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Sony Corp. said Tuesday it will spend $204 million to speed up the development of organic light-emitting diode panel technology.

The Japanese consumer electronics company said in a statement that it aims to develop production technology for mid-sized and large-sized OLED displays.

Sony said it will reinforce its thin film transistor and electroluminescent layer coating processing facilities at one of its unit's Japanese facilities with a goal of implementing the production technology during the fiscal year ending March 2010.