It wasn't long ago when display enthusiasts got excited over OLED news, a few demos here and there and just the news of it "will be out in a few years".

Well, Toshiba has slapped that in the face - they have decided to cut OLD plans, the decision was based on a surge in demands for LCD's this year, another contributing factor was the recent financial crisis hurting the earnings for Toshiba.

Toshiba's subsidiary company, Toshiba Mobile Display Corp partnered with Panasonic had invested $190 million in 2008 to set up a production line for OLED at a factory in Ishikawa prefecture. Their plan was to produce 1.5 million OLED screens for smartphones per year - but obviously this won't be happening now.

All staff involved with the now cancelled production and R&D of OLED will be transferred to the LCD panel division - this is a great move, at least the staff aren't just being laid off. The company will now focus on OLED-related R&D for lighting equipment only.