In an interesting move, Samsung have just confirmed rumors that were floating through the industry over the past few days or so that they were going to be spinning out their core LCD business. This is now true and the new group will be renamed to Samsung Display, and given $667.3 million worth of working capital to begin, as long as it passes approval on April 1.
The decision comes after Samsung have had trouble with their traditional computer monitor and TV division, but on the flip side, have enjoyed great success with their OLED-based panels. The OLED-based panels are successful in great products such as the company's Galaxy Note, and new OLED TV lineup set to debut this year. You know, the one that I want 3 of.
Apple are set to feel this move, as they rely on Samsung for display manufacturing work. We won't know the full effects of this until it begins to roll through the industry. One thing Samsung have confirmed with this news is that the OLED division is staying with Samsung, and not moving over to the newly-formed Samsung Display.