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
Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast. Micro-blogging site Twitter Inc said Tuesday after the markets closed that its second quarter loss widened from last year, hurt mainly by stock-based compensation expense, even as revenue more than doubled thanks to growth in advertising. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
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.