Samsung Electronics announces separation of its LCD business
Samsung has announced it will be separating LCD display division, a step that will help it focus on OLED technologies.
Last week’s report expected Samsung to merge the new company with the OLED subsidiary, Samsung Mobile Display.
The Korean giant filed a press release today, announcing the new LCD subsidiary – named Samsung Display Co. provisionally – which would be formed by April 1.
Company spokesperson, Nam Ki Yung, also announced Samsung will probably merge the new company with Samsung Mobile Display.
Samsung Electronics, the world’s largest LCD display manufacturer, had suffered along with the rest of the industry in the intensely competitive and slowing TV market, with its small profit margins, making an operating loss of $665 million the previous year.
The move to separate its LCD division and merge it with its OLED manufacturing division is hoped to help the company focus on its next generation OLED TV panels, by reallocating LCD manufacturing resources. The company, along with LG, has already shown off its new OLED TV panels at CES this year.
Source: Bloomberg