Samsung gives LCD division spin-off the all clear

Samsung TV

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.

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Andy Clough

Andy is Global Brand Director of What Hi-Fi? and has been a technology journalist for 30 years. During that time he has covered everything from VHS and Betamax, MiniDisc and DCC to CDi, Laserdisc and 3D TV, and any number of other formats that have come and gone. He loves nothing better than a good old format war. Andy edited several hi-fi and home cinema magazines before relaunching in 2008 and helping turn it into the global success it is today. When not listening to music or watching TV, he spends far too much of his time reading about cars he can't afford to buy.