Samsung to spin off LCD unit to focus on OLED TVs
Samsung Electronics, the world's largest maker of flat-screen TVs, expects to spin off its money-losing LCD unit as a new corporation after the company's board of directors approved the plan today.
The new entity, which will be a wholly owned subsidiary of Samsung, will be called Samsung Display Company and switch the company's focus from LCD panels to OLED panels. The spinoff, which still requires shareholder approval, is expected to launch April 1 and make it more competitive in the face of falling demand.
"Currently, the display market is undergoing rapid changes with OLED panels … Read more