Sony and Panasonic will apparently announce an agreement as early as next week to partner in producing television sets that use organic light-emitting diode (OLED) technology. The news comes via Bloomberg who reports there may be a statement issued before the company’s shareholder meetings on June 27. The partnership would be the first of its kind, as both companies face competition from Samsung and LG. Bloomberg’s original source is the Nikkei publication, which didn’t reveal any additional information from Sony or Panasonic company officials who declared the information as private. OLED technology uses light-emitting diodes that emit light when activated by an electric current without the need for a backlight.