Samsung spins off LCD business

Amidst the worldwide financial crisis and the shrinking LCD TV market, Samsung has decided to spin off its loss making LCD business and transform it into an affiliate.

Rumors about this move surfaced on the Net last year but they remained unconfirmed until now.

Provisionally named Samsung Display Co Ltd, the spun-off LCD unit will officially be launched as a new business on April 1, with 750 billion won in capital, Samsung said.

“By being an independently operated company specialising in display panels going forward, our LCD business will be able to strengthen its competitiveness based on the select and focused strategy and take an advantageous position in the future display market ahead of competitors, thereby achieving continuous growth,” the Korean parent firm said in its filing.

Samsung LCD TV

The newly founded subsidiary will start as a new company fully owned by Samsung in a bid to turn around the failing LCD business of the Korean electronics giant. Later on it may be merged with the Samsung Mobile Display and S-LDS units of the parent company but this is yet to be decided.

Mobile Display is the electronics giant’s OLED panel-making unit and S-LCD was previously a joint venture with Sony making LCDs, but is now all Samsung’s.

Samsung is planning to spend 6.6 trillion won ($5.9bn) on its display businesses this year, including LCD and OLED.


Source: theregister.co.uk

Related posts

HP debuts Chromebook 14 notebook

Hewlett-Packard has presented a new Chrome-based device – the HP Chromebook 14, which sports a 14-inch display at 1366 x 768 pixels and a dual-core Intel Celeron 2955U Haswell processor with integrated Intel HD graphics. The device measures 348 x 238.8 x 20.6 mm and weighs...

HP presents the Chromebook 14 G4

HP presents the Chromebook 14 G4

The US company HP has presented its latest Chrome OS device called Chromebook 14 G4. The new notebook computer measures 343 x 240 x 17.7 mm and weighs 1.72 kilograms. Designed for people working with cloud-based files or constantly on the go, the Chromebook 14 G4 is based on the Intel Bay...

Opera on Sony LCD televisions and Blu-ray players

Opera Software and Sony has shaken hands and now their web browser will enhance users Internet experience on BRAVIA TVs and Blu-ray players. deliver more "'lean-forward' Opera says that aims to deliver more “lean-forward”, interactive components to connected home users, which will allow them...

Leave a comment