Toshiba and Sony are reportedly in talks to merge their LCD (Liquid Crystal Display) operations and are also considering selling a stake in the new LCD unit to the Japanese government for approximately 100 billion yen (US$1.25 billion; US$1=80.1 yen), according to a June 7, 2011 report by Nikkei. The two LCD units to be integrated produce small- and medium-sized LCD panels for Smartphones and tablet PCs. Government-backed "Innovation Network Corporation of Japan" is projected to invest in the new company and purchase as high as 80% of the company's total shares. The new company is slated to be established later this year and is also expected to be used to mass produce OEL (Organic Electro-Luminescent) panels.