South Korean Electronics Giant Samsung ‘Spinning-Off’ Its LCD Business To Focus On OLED

Posted on Feb 20 2012 - 7:03am by Editorial Staff

The South Korean Electronics giant Samsung which we earlier reported that considering different options to improve competitiveness of its loss-making LCD flat-screen business – a new filing shows Samsung is going ahead with its plan to sing off its LCD business so as to focus on OLED – the company initially started that it would make a final decision within three months times and today Bloomberg confirms the “go-ahead” move of the company.

Bloomberg reports that the new division is tentatively known as Samsung Display Co, and could be probably merged into Samsung Mobile Display Co. – the move the follows the company’s 750 billion won operating loss (which is about $668 million) realized by Samsung’s LCD business in previous year in 2011 – will allow to shift resources from LCD to OLED production.

(Image Source: Samsung logo, Featured Image)

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.