Samsung spinning off LCD business

Source: http://www.engadget.com/2012/02/20/samsung-spinning-off-lcd-business/

When the Korea Exchange asked Sammy about rumors of an impending spin-off of its LCD business, the firm said it was a move it was considering. Well, consider it done — today Samsung announced it would be launching Samsung Display on April 1st, 2012 with $6.6 billion in its coffers. The move is still waiting for shareholder approval, but Donggun Park, executive vice president of Samsung’s LCD business, seems optimistic. “The spin-off will allow us to make quicker business decisions and respond to our clients’ needs more swiftly.” This decision comes just months after Sammy agreed to take Sony’s stake in S-LCD, turning the former display partnership into a fully owned subsidiary. Hit the break for the official (machine translated) press release.

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Samsung spinning off LCD business originally appeared on Engadget on Mon, 20 Feb 2012 01:53:00 EDT. Please see our terms for use of feeds.

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By: Dr. Augustine Fou Monday, February 20th, 2012 news

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