Sony canceled their OLED TV JV with Panasonic back in 2013, and since then the company is still developing OLED technologies, and is reportedly in talks with LGD to supply OLED panels - but currently the company is focused on LCD TVs. Sony says that they "haven't reached the full potential of LCDs".
At CES, Sony introduced a new technology that they call Backlight Master Drive (BMD) - which is a new backlighting system that improves the color and brightness of LCDs - and also enables LCDs to better support HDR content. BMD TVs can go up to 4,000 nits (!) - and special "software algorithms and intelligent local dimming" help improve contrast. Sony is specifically trying to compete with the image quality of LG's new OLED TVs.
Sony is still "a few years away" from maturing and commercializing this technology. It'll be interesting to see if Sony actually manages to manufacture BMD TVs in the future (some Sony technologies never saw the light of day) - and whether this will be good enough to indeed compete with OLEDs.