Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Samsung Intends To Spin-off LCD Business - Quick Facts

South Korean giant Samsung Electronics Co. (SSNLF.PK, SSNNF.PK) would spin off its loss-making liquid-crystal-display or LCD unit as the company focuses on making thinner, brighter TVs. The firm said, in a filing today, that it would introduce the spun-off unit, Samsung Display Company Ltd., as a separate entity on April 1 with paid-in capital of 750 billion won or $668 million.

Samsung noted that it was planning to focus on new technologies to maintain its edge over the competition. Commenting on the spin-off, Park Dong-Gun, executive vice president and head of Samsung's LCD business said, It "will allow us to make quicker business decisions and respond to our clients' needs more swiftly."

Click here to receive FREE breaking news email alerts for Samsung Electronics Co. Ltd. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Before heading to New York for meetings with other world leaders at the United Nations, President Barack Obama delivered a statement on Tuesday regarding U.S. airstrikes in Syria. Obama highlighted the fact that the U.S. was joined in the attack by Saudi Arabia, the United Arab Emirates, Jordan, Bahrain, and Qatar. After recovering from an initial move to the downside, stocks have shown a lack of direction over the course of the trading day on Tuesday. The choppy trading comes on the heels of the notable pullback seen in the previous session. With lawmakers failing to address corporate tax reform before adjourning for the campaign season, the Treasury Department announced Monday that it is taking targeted action to reduce the tax benefits of corporate tax inversions.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.