logo
Share SHARE
FONT-SIZE Plus   Neg

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."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Everyone knows that the Federal Reserve will raise interest rates next Wednesday at the conclusion of its two-day policy meeting. After all, Fed speakers have been jawboning a rate hike over the past few weeks. With the markets reacting with eerie calm to Donald Trump's win, policy makers have no... GOP strategist Karl Rove has criticized U.S. President-elect Donald Trump's comments on aircraft maker Boeing Co.'s contract for a new Air Force One plane, saying they were inaccurate and de-stabled the stock of a major company. Air Force One is the official air plane for the U.S. President. Elon Musk's space transport company SpaceX has lost a satellite launch order from one of its customers due to the delay in its rocket launch schedule after one of its rockets exploded in September.
comments powered by Disqus
Follow RTT