February 20, 2012 06:53 am EDT

Samsung spinning off LCD business

When the Korea Exchange asked Sammy about rumors of an impending spin-off of its LCD business, the firm said it was a move it was considering. Well, consider it done -- today Samsung announced it would be launching Samsung Display on April 1st, 2012 with $6.6 billion in its coffers. The move is still waiting for shareholder approval, but Donggun Park, executive vice president of Samsung's LCD business, seems optimistic. "The spin-off will allow us to make quicker business decisions and respond to our clients' needs more swiftly." This decision comes just months after Sammy agreed to take Sony's stake in S-LCD, turning the former display partnership into a fully owned subsidiary. Hit the break for the official (machine translated) press release.

Continue reading Samsung spinning off LCD business

Samsung spinning off LCD business originally appeared on Engadget on Mon, 20 Feb 2012 01:53:00 EDT. Please see our terms for use of feeds.

Permalink | ||Comments

Original Link: http://www.engadget.com/2012/02/20/samsung-spinning-off-lcd-business/

View Full Article

Engadget

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WI

More About this Source Visit Engadget