Samsung announced Samsung Display, a spinoff of the company's LCD operations:
Samsung Display Co., Ltd, a global leader in display panel technologies
and products, announced today that it has been officially launched as a new corporation, spun off from
Samsung Electronics. Samsung Display held its inauguration ceremony yesterday and will begin business
operations in earnest after carrying out incorporation registration on April 3.
Donggun Park, executive vice president and head of the former Samsung Electronics' LCD Business
was elected CEO of Samsung Display. The company, which recorded 22.7 trillion KRW (approximately 20
billion U.S. dollars) in annual revenue in 2011 as Samsung Electronics' LCD Business, became the world's
largest display manufacturer overnight, based on its 20,000 employees and five production facilities
Park said at the inauguration ceremony, "We will make Samsung Display a well-respected company
through continuous efforts to supply a wide variety of customized products that provide great value to our
customers." He added, "By continually staying one step ahead of our competitors, we can make our
company the very best in the display market."
More than 350 employees attended the inauguration ceremony. At the inauguration, many reflected
on the success of Samsung Electronics' LCD Business over the past 21 years and expressed a widespread
determination to once again become 'The No. 1 Global Display Manufacturer'.
Samsung Display began as an R&D arm of Samsung Electronics in 1991 and has developed and
released some of the world's most creative and innovative displays for two decades. Now, as a separate
corporation, it will respond to rapidly changing market conditions more efficiently, while providing timely, well-
differentiated products and services this year and well into the future.