A joint venture project carried by a number of Japanese Tech powerhouses like Matsushita, Sharp, Toshiba and Hitachi apparently developed a technology to integrate system chips into LCD panels.

Japanese media today report that researchers managed to embed the electronic circuits of chips with glass sheets used for LCD screens, resulting in a device just 0.7 mm thick. The technology is said to eliminate the usage of circuit boards, which also leads to lower production costs of electronic devices.

The researchers involved in the project currently plan to apply the technology to develop ultrathin cell phones first. Large-size LCD screens for TVs and OLED displays are targeted for a later phase.

The companies and academic institutions behind the joint venture hope to commercialize the new technology in about 5 years. The project is financed with $115 million.