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)
