Samsung to focus on OLED technology

Post by Tom Williams on 21st February 2012 in

Samsung, the world's biggest manufacturer of flat-screen televisions, has announced its intention to focus on the next generation of products.

Following considerable speculation, the firm's board of directors yesterday approved a plan to spin off its loss-making LCD display arm. According to a report by the BBC, the new unit, Samsung Display Company Ltd, will come into being on April 1.

The move comes as a result of weakening demand for LCD flat screen televisions around the world, and falling revenue as manufacturers slash prices in order to attract consumers.

Data gathered by market research firm DisplaySearch last month forecast that annual global sales of liquid crystal TVs would decline by 8 per cent by 2015. Samsung will now target the Organic Light-Emitting Diode (OLED) television market, and is expected to launch a 55-inch model later this year.

Dong-gun Park, executive vice-president and head of Samsung's LCD business, said: "The spin-off will allow us to make quicker business decisions and respond to our clients' needs more swiftly. Through enhancements in business competitiveness, we will continue to provide superior products and services for the market."

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