Samsung to approve spinoff LCD unit

BBC News

Hürriyet photo

Samsung Electronics has announced the launch of Samsung Display Company Ltd. in response to decreasing demand and falling profits.

The new company will start operations April 1, according to BBC news.

The new corporation will be responsible for the production of the Liquid Crystal Display (LCD) unit, while Samsung will focus on creating new technologies to stay abreast with the competition.

"The spin-off will allow us to make quicker business decisions and respond to our clients' needs more swiftly," said Donggun Park, Samsung’s executive vice president and head of the company’s LCD business.