Samsung gives LCD division spin-off the all clear
Samsung's board has given the go-ahead for its plan to spin off the firm's Liquid Crystal Display (LCD) division, reports the BBC.
It will launch the new unit, Samsung Display Company Ltd, as a new corporation on April 1st, once it has shareholder approval for the move.
Samsung, like all LCD manufacturers, is going through a tough time as product demand slows and prices have been eroded.
"The spin-off will allow us to make quicker business decisions and respond to our clients' needs more swiftly," said Donggun Park, executive vice president and head of Samsung's LCD business.