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Panasonic, Sumitomo Chem co-developing OLED panels

* Panasonic, Sumitomo in ties to develop super-thin TV panels

* Panasonic shares down 0.7 pct vs Nikkei’s 0.1 pct slide

TOKYO, May 8 (Reuters) – Japan’s Panasonic Corp (6752.T) said it was developing advanced display panels based on organic light-emitting diode (OLED) technology with Sumitomo Chemical Co (4005.T), in a bid to stay in the race in the next-generation TV market.

OLED panels consume less energy than other panels and make light, thin displays with sharp pictures.

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