Panasonic revealed that it is working with Sumitomo Chemical to manufacture large-sized OLED TVs. The Japanese company will reportedly start production of 40-inch OLED TV’s sometime in 2010.

The 40-inch version will possibly be released a few months after the 37-inch model (which is believed to be due within the next 18 to 24 months). OLED displays are believed to last for 50,000 hours, a 66% improvement over the 30,000-hour lifespan of LCD TV’s .

If you’re just itching to get yourself a brand-spanking new slim-lime flat panel television, then don’t forget about Panasonic’s flagship 1-inch thick (or should I say thin?) Z1 plasma.

[via SlashGear]