Samsung confirms plans to spin off LCD businessFebruary 20, 2012 - 12:35 AMT PanARMENIAN.Net - Samsung has confirmed plans to divorce its LCD business, spinning off the slumping screen division as Samsung Display Company Ltd on April 1 after which point it will operate as a new corporation, Slash Gear reports. Word of the plans broke earlier this month, with Samsung confirming rumors that it was considering a spin-off within the next few months; however, that decision came earlier than predicted, leaving Samsung free to focus on OLED technology. “The spin-off will allow us to make quicker business decisions and respond to our clients’ needs more swiftly,” Donggun Park, executive vice president and head of Samsung’s LCD business said. “Through enhancements in business competitiveness, we will continue to provide superior products and services for the market.” However, while Samsung Display Company may be competitive and swift, the real interest in the screen segment looks to be centering on OLED. Samsung has been tipped to tackle the Japanese market – which it abandoned some years ago – with a new line-up of high end LCD and OLED sets; the company demonstrated a 55-inch OLED HDTV at CES in January. Samsung bought out Sony’s share in the S-LCD joint-venture in a $940m deal last December, and Sony subsequently slashed its own OLED development budget; the Japanese company has cited its poorly performing LCD and TV arms as a key cause of struggling profits. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Civil disobedience campaigns continue in Yerevan People demanding Prime Minister Nikol Pashinyan’s resignation again blocked streets in Yerevan on May 15. Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan. U.S. still believes “peace is possible” between Armenia, Azerbaijan The United States continues to believe that peace is possible between Armenia and Azerbaijan, Vedant Patel says. |