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."
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by RTT Staff Writer
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