Samsung confirms LCD unit spin off

Posted on Monday, February 20 2012 @ 20:17 CET by Thomas De Maesschalck
Samsung officially confirmed that it will spin off its loss-making LCD division into a new company named Samsung Display. The new firm will be created on April 1st with a paid-in capital of 750 billion won ($668 million).
Samsung’s LCD business had an operating loss of 750 billion won last year as global TV sales slowed. The spinoff company may eventually merge with the Samsung Mobile Display venture that makes organic light-emitting diode, or OLED, panels, as Samsung prepares to meet growing demand for the new technology, said James Song, an analyst at Daewoo Securities Co.

“It’s a good decision for Samsung Electronics,” Seoul- based Song said by telephone. “The long-term direction for their display business is going OLED. They can improve efficiency of investment by combining similar businesses.”
Source: BusinessWeek


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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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