South Korean giant, company Samsung Electronics announced its decision to spin off its LCD division into a separate company. The reason was the lack of profit in this segment, the low priority for the company in this direction, the presence of many cheaper Chinese competitors.
It is reported that the new company will begin operations on April 1 this year. The most likely name is Samsung Display, and its working capital will be 750 billion won (668 million US dollars). It is assumed that the autonomy of a loss-making enterprise will allow its management to make strategic decisions in a shorter time, responding to market changes. Perhaps the new company will merge with the company in the future Samsung Mobile Display.
priority direction for Samsung Electronics is becoming the production of OLED panels, which are expected to displace LCDs from the market in the near future.