Cree LED business will undergo restructures, which the company estimates will cost a total US $85 million. According to Roger Chu, Director, Research Division, LEDinside, the company has been hurt by LED bulb price wars. Startup 3D LED company Aledia has successfully completed its round B financing, and has been backed by IKEA GreenTech and automotive lighting company Valeo. Valeo has a 10% stake in Aledia, and appears to be interested in using 3D LED technology in its future automotive lighting products. Merck continues to show interest in OLED technology and has invested in another manufacturing plant in Germany. The company aims to become one of the leading OLED material companies by 2018.