After weeks of speculation and hot gossip from the tech rumor mill, Samsung on Monday confirmed that which we've all expected the Apple supplier to announce sooner or later. Samsung verified plans today that it will spin off its struggling LCD manufacturing business into a new company early this spring.
The new corporate entity - Samsung Display Co. - is yet to be authorized the shareholders, but the move still comes as a significant effort by Samsung to achieve its goal of "structural change" in the display business.
Much of that "change" has to do with the television market's decreased appetite for LCD screens.
The OLED display market may grow to more than $20 billion by 2018, accounting for about 16 percent of the total panel market, from an estimated $4 billion, or 4 percent of industry- wide revenue, last year, according to Santa Clara, California- based DisplaySearch.