Samsung has decided to spin off the manufacturing of display panels to a separate company. The reason for creating the new company is to be able to quicker supply what the market demands.
Samsung has a foot in on most market imaginable in IT and home electronics, display panel manufacturing being just one of many. The new subsidiary Samsung Display becomes the world’s largest company specialized in development and manufacturing of display panels, from the very smallest to large TV panels. During last year Samsung’s panel manufacturing had 20 billion dollar turnover, with 20,000 employees and five fabs.
Donggun Park, previously VP of Samsung Electronic’s panel manufacturing, becomes the CEO of Samsung Display. The new company will be registered today and the operation within the company will continue on like nothing has changed at all.
Samsung believes that by having manufacturing and development in a separate company it will be possible to get new panel technologies and products out on the market faster. Together with the creation of the new company Samsung will make billion dollar investments for developing, among others, new OLED panels.