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|21st February 2012, 06:41||#1|
Join Date: May 2010
Samsung to Spin-Off its LCD Unit
South Korean titan Samsung Electronics has today confirmed the rumors regarding the spin-off of its LCD (liquid crystal display) business. The LCD unit, which posted an operating loss of $668 million for last year, will be 'set free' as of April 1st, and will be renamed Samsung Display Co.
"The spin-off will allow us to make quicker business decisions and respond to our clients' needs more swiftly," said Donggun Park, executive vice president and head of Samsung's LCD unit.
While it's pushing out LCDs, Samsung is still going to make big investments ($5.8 billion this year) in panel technology, focusing on the high-growth OLED segment.
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