Samsung has announced that it is spinning out its LCD division as a separate company, to be called Samsung Display, on April 1st. The move will see Samsung retain only its OLED production, in a bid to streamline its struggling display section.
While Samsung’s performance in the smartphone and tablet LCD sector has been impressive of late, the company has been struggling to achieve the same results in the more traditional areas of computer and TV displays. In an attempt to keep its core business profitable, Samsung is spinning out all of its LCD manufacture into a separate company, reports Electronista. Samsung will itself continue to work on OLED production.
The new LCD company, Samsung Display, is set to separate from Samsung on April 1st, with $667.3 million of working capital. Currently, it’s difficult to tell how much of an impact the move will have on companies, such as Apple, that rely on Samsung for displays. [Electronista]