Samsung Display Co. formation approved by board

Samsung Electronics to split LCD Business from main body

Samsung, like any major electronics company has had to ride the storm and with LCD sales in decline the company is on target to limit the damage

Samsung have confirmed that they are now at the final stages of splitting their LCD Business after having received approval from the company's board.

If approved the new company which would be called Samsung Display Co. and would be launched on 1 April with around £421 million in capital.

Dongun Park, Executive Vice President and head of LCD Business believes that the move will allow the division to become more mobile, giving it the ability to adapt quicker in a market that has seen decline.

"The spinoff will allow us to make quicker business decisions and respond to our clients’ needs more swiftly.” Headded, “Through enhancements in business competitiveness, we will continue to provide superior products and services for the market.”

Samsung recently unveiled what they believe to be the next step in display technologies in the form of their 55-inch OLED display which measures in at thinner than an iPhone 4S and offers unbelievably high levels of contrast and picture clarity.