Update: This news is now official.

There are reports that Hitachi is in talks with Sony and Toshiba to join their upcoming small/medium display joint venture. The new company aims to be the world's largest producer of touch LCD displays, and will also develop and produce OLED displays.

Sony hybrid printed OLED prototypeSony hybrid printed OLED prototype

Japan's government fund Innovation Network Corporation (INCJ) will fund the new company and own around 70%-80%. Originally they planned to invest around ¥100 billion (around $1.25 billion), but if Hitachi will join this may double to $2.5 billion. The extra money will reportedly be used to expand OLED capacity.

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Cambridge Isotope Laboratories - Deutreated Reagents and High-Purity Gases for OLEDsCambridge Isotope Laboratories - Deutreated Reagents and High-Purity Gases for OLEDs