[NASDAQ.com]
South Korean conglomerate Samsung Electronics Co. Ltd. (SSNLF.PK, SSNNF.PK) on Monday said it will spin off its loss making liquid-crystal-display or LCD business effective April 1. The company, in its filing, noted that the display market is undergoing rapid changes and organic light-emitting diode, or OLED panels will become the mainstream by fast replacing LCD panels. …
Samsung, the world’s largest manufacturer of liquid crystal displays, while announcing its fourth-quarter results recently, had noted that Samsung outpaced market growth by a significant increase in TV panel shipments on the back of value-adding products such as LED and 3D TVS.
Meanwhile, the Display Panel business posted a 0.75 trillion won operating loss and 29.24 trillion won in revenue in the full year 2011.
Samsung today pointed out that an independent operation with specialization in display panels will enable its LCD business to achieve continuous growth. This is through strengthening its competitiveness, enhancing speed in investment/strategic decision-making process and establishing autonomous and responsible management. …
See the full story here: http://www.nasdaq.com/article/samsung-to-spin-off-lcd-business-to-focus-on-organic-led-panels-20120220-00108