Samsung says hiving off LCD business

Samsung says hiving off LCD business

Samsung Electronics Co, on Wednesday, said it was considering spinning off its loss-making LCD flat-screen business as it seeks to orient its components business towards OLED displays, touted as the next-generation technology.

The surprise move also underscores the severe market conditions that the LCD industry is facing. Samsung’s South Korean rival LG Display has been loss making for the fifth consecutive quarter, while Japan’s Sharp Corp forecast a record ¥290 billion ($3.70 billion) net loss for the year to March as a slump in TV sales forced it to halve output at a western Japan LCD plant.