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February 20, 2012 09:05 pm

Samsung Spins Off Its Display Business


redletterdave writes "Samsung Electronics announced Monday that it will spin off its LCD business division to launch a new entity, provisionally called Samsung Display Co., set to go live on April 1, 2012. The new business will launch with about $668 million in capital, but Samsung plans to invest about $5.8 billion in 2012 to develop better displays. The move, which now awaits shareholder approval, has been rumored for months since Samsung's LCD business announced operating losses of $666 million in 2011, citing sluggish TV sales. The company's spin-off display business may eventually merge with Samsung Mobile Display, which makes the company's organic light-emitting diode (OLED) panels that are currently in high demand."

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/bDAKXGNB2Xo/samsung-spins-off-its-display-business

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